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Indian rural economy to remain subdued in 2015-16: Moody’s

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Chennai: Credit rating agency Moody’s Investors Service (MIS) on Tuesday said it expects India’s rural economy to remain subdued through the fiscal year ending March 2016.

It said that this forecast will materialise, particularly, if the risk of below-average monsoon rainfall takes shape.

“A sustained soft patch for India’s rural economy would weigh on private consumption and non-performing assets in the agricultural sector, a credit negative for the sovereign and banks,” said Rahul Ghosh, MIS vice-president and senior research analyst.

The analysis was published in the latest edition of Inside India, a quarterly publication of MIS.

According to the report, rural income growth in India has been stuck in the mid to low single digits in 2015 to date, well off the 20 percent-plus rates clocked in 2011.

The slower rural income growth is partly the result of increased fiscal restraint by the central government, that MIS believes is unlikely to change in the coming quarters.

The publication also includes key takeaways from a number of audience polls carried out during the first annual Moody’s and ICRA India Credit Conference in Mumbai, that took place in May.

According to the poll results, the consensus view on India’s economic growth prospects is relatively optimistic, very much in keeping with Moody’s baseline scenario of headline economic expansion of 7.5 percent in FY2016.

This forecast represents the highest projection amongst G20 economies, and provides a key pillar of support for the Baa3 sovereign rating and positive outlook.

“Notwithstanding these growth expectations, our polling results pointed to some disappointment amongst the audience with regard to the pace of reform under the administration of Prime Minister Narendra Modi, and increasing concerns about the risk of policy stagnation,” MIS said.

Specifically, almost half of the poll respondents identified sluggish reform momentum as the greatest risk to India’s macroeconomic story.

According to MIS, the multi-party, federal democracy in India underpins a gradual pace of policy implementation.

While many of the policies are positive for India’s institutional strength, the direct impact of growth-enhancing reforms is only likely to take full effect over a multi-year horizon.

For example, plans to cut the country’s corporate tax rate to 25 percent from the existing 30 percent over the next four years will be credit positive for all Indian corporates insofar as it will reduce their tax expenses and increase their competitiveness over the medium term.

Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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