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Union Finance Minister Nirmala Sitharaman addresses an audience at the Shrimati Indira Gandhi College in Tiruchirappalli on March 16, 2024. | Photo Credit: ANI Union Finance Minister Nirmala Sitharaman on March 16 said India needs economic freedom to achieve developed nation status by 2047 and assured that the country would move to the third spot in the world economy from the current fifth position in the near future.Criticising those who compared India with China, Ms. Sitharaman said that certain things could not be replicated from them. “India should attain self-sufficiency on economic matters. It should become an economic power. The…

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During April-January in the current financial year (2023-24), the export of natural honey has been recorded at 15 crore 32.1 lakh dollars. The government on Thursday imposed a minimum export price (MEP) of $2,000 per tonne on natural honey till December this year. The notification in this regard will come into effect with immediate effect. Honey export below this Minimum Export Price (MEP) will not be allowed. The Directorate General of Foreign Trade (DGFT) said in a notification that the minimum export price (MEP) of $2,000 per tonne on natural honey is imposed till December 31, 2024 or until…

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On a month-on-month basis, the WPI was 0.07% higher, with primary articles rising 0.22% and the Food Index up 0.17%. | Photo Credit: PTI India’s wholesale price inflation moderated to a four-month low of 0.2% in February from 0.27% in January, despite an acceleration in food and primary articles’ inflation rates, owing to a sharper year-on-year drop in manufactured products and fuel and power prices.The Wholesale Food Index (WPI) picked up from 3.8% in January to 4.1% in February, while primary articles’ prices rose 4.5%, compared with 3.84% in the previous month. On a month-on-month basis, the WPI was 0.07%…

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Unemployment and poverty: Job seekers wait beside a road for casual work offered by passing motorists in Eikenhof, South Africa | Photo Credit: SIPHIWE SIBEKO At a time when the number of people living in poverty has been declining worldwide, and significantly in some regions, Sub-Saharan Africa has seen a high increase. In 1990, 278 million people were identified as poor in Sub-Saharan Africa. This number increased to 397 million in 2019. The increase was particularly profound in the last decades, from 2008 onwards, when conflicts occurred in many countries in this region. These statistics were compiled by the World…

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U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting stickiness in inflation that cast some doubts on whether the Federal Reserve would start cutting interest rates in June.February marked the second straight month of firmer inflation readings. Inflation-weary Americans, however, got some relief from their grocery bills, as food prices were unchanged. U.S. central bank officials, including Fed Chair Jerome Powell have indicated they are in no rush to start lowering borrowing costs.The higher cost of living is one of the key issues in the Nov. 5 U.S. presidential election.”Officials want to see some…

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