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News UpdatesBy: Priyanka Sharma

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Sunday, April 9, 2023By: Priyanka Sharma

India and China, besides some developed countries, may face economic downturn in the coming months, according to an analysis by OECD - a grouping of mostly advanced nations.

The latest reading is in contrast to the bullish outlook for fast-growing economies such as India, which tackled the global financial meltdown better than many other countries.


OECD's latest Composite Leading Indicators (CLIs) released today show that global economic expansion is slowing down.

CLI provide early signals of turning points in business cycles - fluctuations of economic activity around its long term potential level.

CLI for India stood at 100.4 in August, a tad lower than 100.6 recorded in July.


The CLI for the OECD area decreased by 0.1 point in August, making it the fourth straight month that the index has shown negligible or negative growth.

However, the grouping pointed out that there are stronger signals of a peak emerging in the world's largest economy US.


Total wealth in India has tripled over the past decade to $3.5 trillion and could further increase to $6.4 trillion by 2015, says a report on global wealth by investment bank Credit Suisse.

India’s economy has grown at an average 8% over the past four years, and is estimated to grow 8.5% this fiscal according to RBI estimates.


China stands out as the third-largest wealth generator in the world, with total household wealth of $16.5 trillion,

Behind only the US ($54.6 trillion) and

Japan ($21 trillion). Furthermore, China’s wealth is almost five

times that of India’s.


The Australian Commonwealth team, who were angry after being forced to wait in "cauldron-like" conditions in the stadium tunnel for an hour before the opening ceremony, have told the Games organisers that they won't put up with more unacceptable treatment at the closing ceremony.

"Perry pushed extremely strongly a couple of points that we want covered off to ensure that there is no situation like the opening ceremony," Moneghetti told reporters.

Meanwhile, Moneghetti expects a tough time deciding who gets to carry the flag into the closing ceremony after such a successful campaign, with Australia already winning more than 60 gold medals.


"The RBI will shortly put into circulation coins of Rs 5 and Rs 2 with the theme 'XIX Commonwealth Games, 2010-Delhi," the apex bank said in a statement.

Both the Rs 5 and Rs 2 denomination coins will be of circular shape and have a diameter of 23 millimeters and 27 millimeters, it added.

The existing Rs 5 and Rs 2 coins will also continue in circulation.


BCCI's finance committee chairman Jyotiraditya Scindia said that everyone will have to "accept" the board's decision to scrap IPL franchisees Kings XI Punjab and Rajasthan Royals.

"It is a BCCI's decision and everyone will have to accept this," Scindia, Union Minister of State for Commerce and Industry, told .


Contd……………

He, however, refused to comment further saying "I am a BCCI committee chairman and so I should not analyse the internal decision of the board."

Meanwhile, Scindia expressed his happiness over the "excellent" organisation of the Commonwealth Games and said it is one of the important "achievements" for India in which many talents have come to fore.



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News by priyanka sharma