notes: The Financial Express

Staying the course ========== The Monetary Policy Committee (MPC) of [unknown] is expected to keep the repo rate unchanged at 6.5% and maintain its 'withdrawal of accommodation' stance at its April 3-5 meeting. The tone of the statement is expected to be cautious amid a still strong gross domestic product (GDP) growth — the MPC is expected to revise its FY24 GDP growth forecast up towards 8% (versus the government’s forecast of 7.6%) — and inflation risks (even as FY25 consumer price index [CPI] forecast is revised marginally lower to 4.5% amid recent cuts in retail fuel and cooking gas prices). Likely GDP growth of 7%-plus for the fourth year in succession (Standard Chartered’s [SC’s] forecast for FY25, the year starting April 2024) reduces the need to pursue easy monetary policy in the near term. It can be acknowledged that household consumption, which accounts for 56-58% of GDP, has stayed weak; it grew by just 3% in FY24, even as aggregate GDP grew at 7.6%. More importantly, the pace of household consumption growth in FY24 is less than half of the pre-pandemic average of 7.2% during FY15-FY19. However, a reversal can be expected in FY25, assuming a normal monsoon. SC’s data analysis indicates that inadequate monsoon rains likely weigh on household consumption demand, especially in rural areas, driven by reduced spending on food and beverages (F&B). Rural India derives c.37% of earnings from the sale of agricultural produce and in FY15-FY16, the adverse monsoon lowered household spend on F&B to an average of 1.4%, from 5.3% in FY13-FY19. This shaved 90 basis points (bps) from overall GDP in FY15-FY16 (although higher spending on other products supported household consumption). Once the impact reversed with the resumption of a normal monsoon, household demand and F&B spend picked up in subsequent years. It is believable that after an inadequate monsoon in FY24 and with an increased possibility of a normal monsoon in FY25, consumption demand is likely to see a revival, similar to the pattern seen after FY15-FY16. Thus, immediate and deep rate cuts are not needed to support growth. Additionally, the Reserve Bank of India (RBI) has rolled out a slew of macro-prudential measures to reduce the flow of credit to unproductive sectors and to ensure medium-term financial sector stability. Any indications of rate cuts in the near term could reduce the efficacy of these policies as expectations of cheaper credit can run counter to the objective of constraining credit growth to unproductive sectors of the economy. More importantly, inflation is likely to remain a concern for the MPC, which is mandated to keep CPI at 4% on a sustainable basis within a +/-2% band. While headline CPI inflation eased to c.5% in January-February from an average 5.6% in November-December 2023, the pace of easing has been slower than expected. Elevated food prices have kept headline inflation at c.5%, despite the recent cuts in cooking gas and retail fuel prices and lower core inflation (less than 4% for three consecutive months). The March CPI inflation is expected to be at 5.05%, with core inflation likely edging up to 3.47% (from 3.34%) on higher gold prices. While a favourable base effect is likely to pull headline CPI inflation below 5% from June-July 2024, elevated food prices remain a risk, especially amid forecasts of higher-than-normal temperatures across the country. Thus, any indication of rate cuts soon seems unlikely, especially amid the crude oil price rally to $90/barrel. Therefore, the MPC is expected to strike a cautious tone to anchor expectations on (i) the timing and (ii) the quantum of rate cuts when the easing cycle begins. While a statement around vigilance over still high inflation is likely to anchor expectations of no rate cuts before the third quarter of 2024, reiteration of the 4% medium-term inflation target, in our view, is likely to anchor expectations around the quantum of rate cuts. FY25 CPI inflation is expected to be at 4.5%. Since a few MPC members have flagged a preference for real rates of c.1% (the repo rate less forecast headline CPI four quarters ahead), many in the market expect a deep rate-cutting cycle. However, the MPC is likely to deliver a shallow rate-cutting cycle of 50 bps (the repo rate is currently at 6.5%) as it is expected to remain cognisant of the medium-term equilibrium inflation level. It can be assumed that headline CPI will not fall below 5% on a sustained basis, as weather-related disruptions have become frequent and we see a turnaround in core CPI towards 5% by end of FY25, on improved household demand. Overall, in a highly uncertain world, the MPC — similar to past meetings — is expected to remain cautious and reiterate data dependency for its future actions. #MonetaryPolicyCommittee #GdpGrowth #InflationRisks #HouseholdConsumption #RateCuts #Inflation #Rbi https://www.financialexpress.com/opinion/staying-the-course-3/3445634/

Notes by The Financial Express | export

▲ ▼

US F-1 Student Visa Rejection Reasons: Refusal rates reach record levels
==========

In the United States, F-1 visa refusal rates have reached record levels, with over 250,000 international students turned away from studying in the country. In 2023, the refusal rate rose to 36 percent totaling 253,355 refusals, exceeding 2022 levels. The direct economic effect of the visa refusals is estimated at over $7 billion annually. The more than 1 million international students at US HEIs contributed over $40 billion to the US during academic year 2022-23. The rise in Indian student applications may be one reason for the high refusal rates, as Indian applicants received 29% of all issuances last year and historically are more likely to be refused a visa than their Chinese counterparts. US immigration officials may also have been potentially extremely subjective in student visa interviews. Experts have called on the Biden administration to be more transparent about such student visa denials, implementing a fair policy for reviewing student applications. Last year, the US reported this trend of rising visa refusal rates. Yet despite rising rejection rates, student visa issuances in the US managed to exceed pre-COVID levels. The F-1 visa allows an international student to temporarily live in the US for a certain period while studying at a college or university certified by the Student and Exchange Visitor Program (SEVP).

#UsF1StudentVisa #VisaRefusalRates #InternationalStudents #EconomicImpact

https://www.financialexpress.com/business/investing-abroad-us-study-visa-rejections-peak-in-2023-what-it-means-to-american-economy-and-students-3465731/

 IT firms navigate workforce cuts, US slump, AI opportunities
==========

In FY24, Infosys, TCS, and Wipro collectively saw workforce reduction of 63,759 employees. The domestic IT sector faced a collective headcount reduction, a downturn in the US revenue, a fluctuating performance in the BFSI sector, and a paradox of rising deal wins not translating into equivalent revenue growth. The demand from the US showed considerable weakening in FY24 as clients held back their discretionary spendings and the macroeconomic uncertainties caused delays in deal conversion, thus impacting the IT companies revenue streams significantly. Despite these challenges, there is a beacon of strategic optimism in the companies’ focus on AI and GenAI.

#ItFirms #WorkforceCuts #UsSlump #AiOpportunities #Infosys #Tcs #Wipro #BfsiSector

https://www.financialexpress.com/business/industry-it-firms-navigate-workforce-cuts-us-slump-ai-opportunities-3464103/

 Evolution of customer segmentation and future prospects with generative AI
==========

Customer segmentation has evolved over time, driven by advancements in AI and changing consumer demands. From demographic classifications to psychographic profiling, businesses seek more nuanced insights into their target audience. Generative AI, with its ability to synthesize data and create personalized experiences, promises to revolutionize customer understanding and engagement. It can handle large amounts of data, analyze it, and create super-customized customer experiences. The future of customer segmentation with generative AI looks promising, as it can create multidimensional customer profiles and enable truly personalized marketing experiences. It has the potential to democratize segmentation and make advanced analytics accessible to businesses of all sizes.

#CustomerSegmentation #GenerativeAi #Business #DatadrivenInsights #PersonalizedMarketing #FutureProspects

https://www.financialexpress.com/business/digital-transformation-evolution-of-customer-segmentation-and-future-prospects-with-generative-ai-3455684/

 Three major changes that AI will bring in 2024
==========

Enterprises will craft a substantive AI strategy in 2024. AI will transform education and healthcare, making them more affordable and improving access globally. Generative AI will automate mundane tasks and disrupt jobs involving knowledge processing. The traditional distinction between creative roles and technology jobs is fading as AI elevates job functions. Enterprises will transform and innovate at a faster pace with the use of generative AI. Responsible and sustainable utilization of AI is crucial for its ethical and beneficial integration into business and society.

#Ai #Technology #Automation #Jobs #Education #Healthcare

https://www.financialexpress.com/business/industry-three-major-changes-that-ai-will-bring-in-2024-3451004/

 Rupee maintains upward trend; sees marginal gains in early Monday trade
==========

The rupee strengthened early on Monday, maintaining its upward trend from the previous session, despite a spike in U.S. bond yields as investors reduced their bets on a rate cut by the US Federal Reserve in June. Broad-based dollar sales from local and foreign banks helped the rupee on Monday. The rupee was at 83.26 to the dollar as of 9:45 a.m. IST, up slightly from 83.2950 in the previous session. Additionally, a moderation in oil prices on easing tensions in west Asia is also likely to assist the rupee. The dollar index was little changed at 104.3 while Asian currencies were mixed. Treasury yields increased following data that revealed US. job growth was stronger than anticipated in March, prompting a pullback in odds of a rate cut at the Fed’s June meeting. Meanwhile, dollar-rupee forward premiums declined, with the 1-year implied yield down 2 bps at 1.65%, pressured by the rise in U.S. bond yields.

#Rupee #ForeignExchange #UsFederalReserve #Dollar #BondYields #OilPrices #AsianCurrencies #TreasuryYields

https://www.financialexpress.com/market/rupee-maintains-upward-trend-sees-marginal-gains-in-early-monday-trade-3449726/

 Will Nifty hit a new high above 22,600 or consolidate ahead? See GIFT Nifty, FII data, F&O ban, crude, more before market opens - Market News | The Financial Express
==========

GIFT Nifty showed a gain of 52.50 points or 0.23% at 22,674, signaling a positive start for the domestic indices NSE Nifty 50. The NSE Nifty 50 ended up by just 0.95 points to settle at 22,513.70, while the BSE gained 20.59 points or 0.03% to 74,248.22. The recent consolidation in Nifty amid weak global cues indicates time-wise correction and traders should maintain a positive bias until the Nifty holds 22,200 level. The US stock market ended the week on a positive note. Crude oil prices are trading down on Monday morning. Foreign institutional investors (FII) bought shares worth net Rs 1659.3 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 3,370.4 crore on April 5, 2024. The NSE has added Hindustan Copper, Sail, and Zee Entertainment Enterprise in F&O on April 8, 2024.

#Nifty #GiftNifty #FiiData #F&oBan #CrudeOil

https://www.financialexpress.com/market/will-nifty-hit-a-new-high-above-22600-or-consolidate-ahead-see-gift-nifty-fii-data-fampo-ban-crude-more-before-market-opens-3449573/

NCR's Hollywood Dream: Can Dwarka Expressway become India's Los Angeles?
==========

Dwarka Expressway in NCR is being developed as a growth corridor with a focus on sustainability and technological advancements. It connects key business districts like Gurgaon and Delhi, reducing travel time and attracting professionals. The upcoming Jewar Airport in Noida is expected to further enhance its appeal. Metro connectivity is a cornerstone of the project, providing access to employment hubs, educational institutions, healthcare facilities, and recreational centers. The region is also witnessing the development of residential complexes, commercial hubs, and reputable educational institutions. Investors are capitalizing on the potential for significant returns as the expressway matures and development flourishes. The region's potential for generating rental income is also attractive. The article draws parallels between Dwarka Expressway and Los Angeles in terms of connectivity, business landscape, and vibrant lifestyles. Dwarka Expressway is leveraging smart city initiatives and focusing on sustainability and technological advancements. The region offers opportunities for astute investors and a future that is prosperous, responsible, and green.

#DwarkaExpressway #Ncr #India #LosAngeles #Sustainability #TechnologicalAdvancements #MetroConnectivity #ResidentialComplexes #CommercialHubs #EducationalInstitutions #Investors #RentalIncome #SmartCityInitiatives

https://www.financialexpress.com/money/ncrs-hollywood-dream-can-dwarka-expressway-become-indias-los-angeles-3448936/

Staying the course
==========

The Monetary Policy Committee (MPC) of [unknown] is expected to keep the repo rate unchanged at 6.5% and maintain its 'withdrawal of accommodation' stance at its April 3-5 meeting. The tone of the statement is expected to be cautious amid a still strong gross domestic product (GDP) growth — the MPC is expected to revise its FY24 GDP growth forecast up towards 8% (versus the government’s forecast of 7.6%) — and inflation risks (even as FY25 consumer price index [CPI] forecast is revised marginally lower to 4.5% amid recent cuts in retail fuel and cooking gas prices). Likely GDP growth of 7%-plus for the fourth year in succession (Standard Chartered’s [SC’s] forecast for FY25, the year starting April 2024) reduces the need to pursue easy monetary policy in the near term. It can be acknowledged that household consumption, which accounts for 56-58% of GDP, has stayed weak; it grew by just 3% in FY24, even as aggregate GDP grew at 7.6%. More importantly, the pace of household consumption growth in FY24 is less than half of the pre-pandemic average of 7.2% during FY15-FY19. However, a reversal can be expected in FY25, assuming a normal monsoon. SC’s data analysis indicates that inadequate monsoon rains likely weigh on household consumption demand, especially in rural areas, driven by reduced spending on food and beverages (F&B). Rural India derives c.37% of earnings from the sale of agricultural produce and in FY15-FY16, the adverse monsoon lowered household spend on F&B to an average of 1.4%, from 5.3% in FY13-FY19. This shaved 90 basis points (bps) from overall GDP in FY15-FY16 (although higher spending on other products supported household consumption). Once the impact reversed with the resumption of a normal monsoon, household demand and F&B spend picked up in subsequent years. It is believable that after an inadequate monsoon in FY24 and with an increased possibility of a normal monsoon in FY25, consumption demand is likely to see a revival, similar to the pattern seen after FY15-FY16. Thus, immediate and deep rate cuts are not needed to support growth. Additionally, the Reserve Bank of India (RBI) has rolled out a slew of macro-prudential measures to reduce the flow of credit to unproductive sectors and to ensure medium-term financial sector stability. Any indications of rate cuts in the near term could reduce the efficacy of these policies as expectations of cheaper credit can run counter to the objective of constraining credit growth to unproductive sectors of the economy. More importantly, inflation is likely to remain a concern for the MPC, which is mandated to keep CPI at 4% on a sustainable basis within a +/-2% band. While headline CPI inflation eased to c.5% in January-February from an average 5.6% in November-December 2023, the pace of easing has been slower than expected. Elevated food prices have kept headline inflation at c.5%, despite the recent cuts in cooking gas and retail fuel prices and lower core inflation (less than 4% for three consecutive months). The March CPI inflation is expected to be at 5.05%, with core inflation likely edging up to 3.47% (from 3.34%) on higher gold prices. While a favourable base effect is likely to pull headline CPI inflation below 5% from June-July 2024, elevated food prices remain a risk, especially amid forecasts of higher-than-normal temperatures across the country. Thus, any indication of rate cuts soon seems unlikely, especially amid the crude oil price rally to $90/barrel. Therefore, the MPC is expected to strike a cautious tone to anchor expectations on (i) the timing and (ii) the quantum of rate cuts when the easing cycle begins. While a statement around vigilance over still high inflation is likely to anchor expectations of no rate cuts before the third quarter of 2024, reiteration of the 4% medium-term inflation target, in our view, is likely to anchor expectations around the quantum of rate cuts. FY25 CPI inflation is expected to be at 4.5%. Since a few MPC members have flagged a preference for real rates of c.1% (the repo rate less forecast headline CPI four quarters ahead), many in the market expect a deep rate-cutting cycle. However, the MPC is likely to deliver a shallow rate-cutting cycle of 50 bps (the repo rate is currently at 6.5%) as it is expected to remain cognisant of the medium-term equilibrium inflation level. It can be assumed that headline CPI will not fall below 5% on a sustained basis, as weather-related disruptions have become frequent and we see a turnaround in core CPI towards 5% by end of FY25, on improved household demand. Overall, in a highly uncertain world, the MPC — similar to past meetings — is expected to remain cautious and reiterate data dependency for its future actions.

#MonetaryPolicyCommittee #GdpGrowth #InflationRisks #HouseholdConsumption #RateCuts #Inflation #Rbi

https://www.financialexpress.com/opinion/staying-the-course-3/3445634/

 Dr. Reddy's Laboratories' subsidiary Aurigene launches AI/ML-assisted drug discovery platform
==========

Dr. Reddy's Laboratories' subsidiary Aurigene has launched Aurigene.AI, an AI and ML-assisted platform for accelerating drug discovery projects. The platform combines advanced physics-based simulation, generative and predictive AI models, and Computer-Aided Drug Design (CADD). It also includes a curated database of 180 million compounds and 1.6 million validated bioassay data points. The platform is hosted on Google Cloud and has been validated by discovery scientists at Aurigene, reducing the cycle time from chemical design to synthesis and testing by 35 percent. The platform aims to facilitate faster development of novel therapeutics.

#DrReddy'sLaboratories #Aurigene #Ai #Ml #DrugDiscovery #Platform

https://www.financialexpress.com/healthcare/healthtech/dr-reddys-laboratories-subsidiary-aurigene-launches-aiml-assisted-drug-discovery-platform/3445072/

MPC unlikely to surprise on rates and stance: Poll
==========

The Monetary Policy Committee (MPC) is unlikely to make any positive surprises on interest rates or policy stance during its upcoming meeting on April 3-5. The repo rate is expected to remain unchanged at 6.5% for the seventh consecutive time, and the stance of withdrawal of accommodation is likely to continue due to inflation staying above the RBI's comfort zone of 4%. Around 50% of economists expect rate cuts from the third quarter of the current fiscal year, while 25% expect rate cuts from the second quarter. The central bank is expected to retain its policy stance of withdrawal of accommodation to avoid signaling a rate cut too soon. The MPC has been focused on the withdrawal of accommodation since April 2022 to align inflation with its 4% target. The efforts have eased prices to some extent, but CPI inflation remains above the target. GDP growth has exceeded forecasts, with a growth rate of 8.4% in FY25. The earliest rate cut is expected in the October 2024 meeting, unless there is a negative surprise in growth in the intervening quarters. Market participants will also be watching the central bank's commentary on liquidity management, as the banking system liquidity has moved from deficit to surplus in the last two months.

#MonetaryPolicyCommittee #InterestRates #PolicyStance #RepoRate #Inflation #GdpGrowth #LiquidityManagement

https://www.financialexpress.com/policy/economy-over-50-expect-rate-cuts-from-q3-mpc-unlikely-to-surprise-on-rates-and-stance-poll-3442182/

 Agriculture in Viksit Bharat: In the vision of a developed India by 2047, agriculture must also catch up with the times
==========

Agriculture is critical for India’s development as it still engages about 45.8% of working population (2022-23, PLFS data). The average annual growth rates (AAGRs) of overall GDP and agri-GDP from 1991-92 to 2023-24 are 6.1% and 3.3% respectively. Under the Modi government, overall GDP has grown by 5.9% and agriculture growth has been 3.6%. To achieve the vision of Viksit Bharat@2047, agriculture needs to develop its full potential by increasing productivity, reducing water consumption, recharging groundwater, arresting soil degradation, and curbing greenhouse gas emissions. The agenda for agriculture in Viksit Bharat should include rationalizing food and fertilizer subsidies, investing in agri-R&D and innovation, promoting water-saving techniques, and transitioning to high-value agriculture with a value chain approach. The aim is to move more people out of agriculture to higher productivity sectors and ensure inclusive development.

#Agriculture #India #Development #Gdp #Productivity #WaterConsumption #SoilDegradation #GreenhouseGasEmissions #Subsidies #HighvalueAgriculture

https://www.financialexpress.com/opinion/agriculture-in-viksit-bharat-in-the-vision-of-a-developed-india-by-2047-agriculture-must-also-catch-up-with-the-times/3442300/

 Economy shows resilience despite external headwinds
==========

India's economy has exhibited resilience and has been able to grow at a rate much higher than market expectations. In the first three quarters of FY24, the country's GDP expanded sharply by 8.2%, with the growth in Q3 coming in at a six-quarter high of 8.4%. The growth was largely driven by investments, particularly in manufacturing and residential construction. Key macro-indicators such as CPI inflation, WPI inflation, trade, and current account deficit are benign and expected to remain range-bound. Inflationary pressures have remained contained, with CPI inflation averaging 5.4% in April-February FY24. The share of gross-fixed capital formation (GFCF) in GDP is expected to rise to 34.1% in FY24, the highest in the past 11 years. However, concerns remain about the durability of the growth revival and the quality of the data. Economists expect consumption to pick up in FY25 from easing inflation, rate reductions, improvement in sentiments, and growth in real wages. Most economists expect FY25 GDP growth to be around 7% or slightly higher.

#IndianEconomy #GdpGrowth #Investments #Inflation #Macroindicators

https://www.financialexpress.com/policy/economy-economy-shows-resilience-despite-external-headwinds-3442232/

 RBI's interest rate decision, macro data, global factors to dictate mkt trends this week: Analysts
==========

The Reserve Bank of India’s interest rate decision, macroeconomic data, and global trends will drive investors’ sentiment this week, with markets hoping to continue the positive momentum after ending FY24 on a buoyant note. The RBI’s Monetary Policy Committee (MPC) is set to start its three-day meeting deliberating interest rates and analyzing the state of the economy on April 3 and will end on April 5. Companies will announce the monthly sales numbers for March starting from April 1. The rupee-dollar trend, movement of global oil benchmark Brent crude, and investments made by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also influence trading in equity markets. US Fed Reserve Chairman Jerome Powell’s speech is scheduled for April 3, and data like the US ISM manufacturing PMI for March will be declared on April 1. US non-farm payrolls data and the unemployment rate for March will be announced on April 5. The market capitalization of BSE-listed companies soared by Rs 1,28,77,203.77 crore to Rs 3,86,97,099.77 crore in FY24. The outlook for the market will be guided by major global and domestic economic data, automobile sales, US and India manufacturing Purchasing Managers’ Index (PMI), US job openings, factory orders, and US non-farm payrolls, and unemployment rate. The RBI’s monetary policy committee will meet from April 3-5, 2024, and decide on policy rates. The monetary policy statement will provide important cues on the economy, inflation, and interest rates. Last week, the BSE benchmark climbed 819.41 points or 1.12 percent, and the NSE Nifty advanced 230.15 points or 1.04 percent.

#Rbi #InterestRate #MacroData #GlobalFactors #MarketTrends #Investors #Sentiment #MonetaryPolicyCommittee #Economy #SalesNumbers #RupeedollarTrend #BrentCrude #Fiis #Diis #JeromePowell #IsmManufacturingPmi #NonfarmPayrolls #UnemploymentRate #MarketCapitalization #EconomicData #AutomobileSales #PurchasingManagers’Index #JobOpenings #FactoryOrders #PolicyRates #MonetaryPolicyStatement #BseBenchmark #NseNifty

https://www.financialexpress.com/market/rbis-interest-rate-decision-macro-data-global-factors-to-dictate-mkt-trends-this-week-analysts-3442014/

 Ministries seek more socioeconomic surveys; several requests made to statistics ministry for tech, manpower support
==========

Key economic ministries in India have requested technical and manpower support from the Ministry of Statistics and Programme Implementation (MoSPI) for a fresh set of surveys. The surveys aim to bolster their database for suitable policy action and cover areas such as tourism footfall surveys, ailments among the elderly, and price estimation of industrial inputs. The National Sample Survey Office (NSSO), the survey wing of the statistics ministry, will conduct these surveys. The NSSO conducts large-scale sample surveys in diverse fields across India and collects data on various socio-economic subjects. The ministry will likely start conducting the additional surveys after the elections. Private agencies may be contracted to conduct certain surveys due to resource constraints, but there are concerns about the accuracy of results from such agencies. Experts suggest expanding the capacities of the NSSO to conduct the extra surveys.

#SocioeconomicSurveys #StatisticsMinistry #India #Nsso #Database #PolicyAction

https://www.financialexpress.com/policy/economy-ministries-seek-more-socioeconomic-surveys-several-requests-made-to-statistics-ministry-for-tech-manpower-support-3435932/

 Large-scale zero-budget farming may hit crop output: study
==========

A joint study by Nabard and Icrier suggests that large-scale adoption of traditional farming practices such as Zero Budget Natural Farming (ZBNF) may impact the production of major crops like rice and wheat. The study calls for long-term experimentation and a rigorous assessment before implementing ZBNF as a nationwide agricultural practice. A three-year field experiment by the Indian Institute of Farming Systems Research estimated a decline of 59% in wheat production and 32% in basmati rice or coarse rice production under ZBNF compared to integrated crop management. The study also highlights the importance of productivity for food security and suggests that resilient supply chain networks for farm inputs are necessary for transitioning towards natural farming. The study recommends the development of a scientifically valid protocol for ZBNF by the National Centre of Organic Farming. It also proposes providing direct benefit transfers to farmers to purchase fertilizers at market prices to address soil quality deterioration caused by excessive use of subsidized urea.

#Farming #Agriculture #CropProduction #ZeroBudgetNaturalFarming

https://www.financialexpress.com/policy/economy-large-scale-zero-budget-farming-may-hit-crop-output-study-3435666/

 Govt allows UAE's Adnoc to export oil from Indian strategic storage
==========

The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm. At present, crude oil is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC). The Indian Strategic Petroleum Reserve Ltd has leased half of the 1.5 million tonne capacity in Mangalore storage to Adnoc. The remaining was retained by ISPRL. Adnoc had sought permission for the export of its oil from the cavern in cases where it could not find buyers in Indian refiners. After the notification, Adnoc can now export oil stored in the Mangalore storage.

#Uae #Adnoc #CrudeOil #StrategicStorage #Mangalore #IndianOilCorporation #Export

https://www.financialexpress.com/business/industry-govt-allows-uaes-adnoc-to-export-oil-from-indian-strategic-storage-3435052/

 Global Market Predictions: US Fed's first rate cut likely to be in June? - Investing Abroad News | The Financial Express
==========

The Federal Reserve maintained its key interest rate at a 23-year high range of 5.25-5.50%, during its March 2024 FOMC meeting. Fed officials predict three cuts to federal funds rate by year-end, with participants anticipating the rate to begin cutting at its June meeting. Market experts have mixed views on the timing of the rate cut, with some expecting it to happen in June and others suggesting it will depend on the personal consumption expenditure figures for February. The Fed's dot plot projections for 2024 indicate three rate cuts, but investors should remember that dot plots are poor predictors of actual policy. The Fed's forecast for the year-end fed funds rate target is 4.6%, with a range of 4.50% to 4.75%. The Fed also raised the core PCE inflation forecast to 2.6% from 2.4% and raised the real GDP forecast to 2.1% from 1.4%. Comerica Bank expects the Fed to cut the fed funds target by three quarters of a percent over the course of 2024, most likely in quarterly cuts of a quarter percentage point each at their June, September, and December decisions.

#FederalReserve #InterestRates #RateCut #FomcMeeting #DotPlot #Inflation #Gdp #EconomicForecast

https://www.financialexpress.com/business/investing-abroad-us-feds-first-rate-cut-likely-to-be-in-june-global-market-gurus-reactions-3433105/

 What are spot Bitcoin ETFs and are they safe to invest in?
==========

The US Securities and Exchange Commission (SEC) has approved 11 spot Bitcoin ETFs, signaling a shift in the regulatory landscape. Spot Bitcoin ETFs track the current market price of Bitcoin and provide direct exposure to its price movements. The approval of spot Bitcoin ETFs is expected to attract institutional investors, enhance market liquidity, and contribute to greater market stability. However, spot Bitcoin ETFs are susceptible to market volatility and security concerns. In India, investing in spot Bitcoin ETFs offers more favorable tax treatment compared to direct crypto investments. The approval of spot Bitcoin ETFs by the SEC has potential implications for global markets and tax considerations in specific jurisdictions.

#Bitcoin #Etfs #Sec #Investment #MarketLiquidity #MarketStability #TaxImplications

https://www.financialexpress.com/business/digital-transformation-what-are-spot-bitcoin-etfs-and-are-they-safe-to-invest-in-3389321/

America EB-5 Visa: Requirements for EB-5 immigrant visa category and Regional Center Program
==========

The EB-5 Immigrant Investor Program was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Investors may qualify for the EB-5 classification by investing through regional centers designated by USCIS. On March 15, 2022, President Biden signed the EB-5 Reform and Integrity Act, which created new requirements for the EB-5 immigrant visa category and the Regional Center Program. The primary condition is that an EB-5 investor must invest the required amount of capital in a new commercial enterprise that will create full-time positions for at least 10 qualifying employees. The new commercial enterprise must directly create full-time positions for a new commercial enterprise not located within a regional center, while a new commercial enterprise located within a regional center can directly or indirectly create full-time positions. USCIS distinguishes between direct and indirect jobs, with direct jobs establishing an employer-employee relationship between the new commercial enterprise and the persons it employs, and indirect jobs being held outside of the new commercial enterprise but created as a result of the new commercial enterprise. A qualifying employee is a U.S. citizen, lawful permanent resident, or other immigrant authorized to work in the United States. Full-time employment requires a minimum of 35 working hours per week. Troubled businesses and job maintenance are also considered in the EB-5 visa requirements.

#Eb-5Visa #ImmigrantVisa #RegionalCenterProgram #Uscis #JobCreation #CapitalInvestment #ForeignInvestors

https://www.financialexpress.com/business/investing-abroad-us-eb-5-visa-rules-and-requirements-for-eb-5-immigrant-visa-category-and-regional-center-program-3387906/

US Permanent Resident Visa: Recent policy announcements that make EB-5 program more attractive for Indian investors
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The EB-5 Visa Program is one of the paths a foreign national can take to obtain a green card and become a permanent resident of the United States. Recent policy announcements by the USCIS have made the EB-5 program more attractive for Indian investors. The USCIS has rolled out several updates for the EB-5 program, including the introduction of concurrent filing, the EB-5 Reform and Integrity Act of 2022, and the fast-tracking of investments in Targeted Employment Areas. In October 2023, USCIS revised its policy on the minimum investment period required for EB-5 visa applicants, setting a clear two-year investment requirement. The launch of the online visa application system is expected to significantly enhance visa processing speed. In Fiscal Year 2023, the number of EB-5 visa applications showed a significant increase compared to previous years. The EB-5 program in India primarily attracts high-net-worth individuals and affluent families seeking U.S. residency. The future outlook for EB-5 adoption in India is positive, with around 676 EB-5 visas issued to Indians in FY 2023. The current investment requirement for the program is $800,000. USIF has held 2 roadshows in India in 2023, which have been successful in generating interest and attracting investors. The EB-5 program is considered a credible and sought-after path to obtain permanent residency in the US due to its alignment with U.S. economic goals, recent reforms, and policy changes that have made it more accessible and efficient.

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https://www.financialexpress.com/business/investing-abroad-us-pr-visa-recent-policy-announcements-that-make-eb-5-program-more-attractive-for-indian-investors-3382000/

 Long-term portfolios poised to generate favourable returns
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Experts suggest investors consider betting on long-term debt mutual funds after the Budget for several reasons. The projected fiscal deficit for FY25 and the expected decline in gross borrowings indicate positive prospects for the bond markets. The Reserve Bank of India's consistent pause stance since April 2023 and the global bond inclusion will further enhance the flow to the debt segment, drive up demand, and bolster investor confidence. Investors should adopt a barbell strategy, allocating 40% of their funds into short-term options and the remaining into gilt-oriented funds with longer durations. Diversification across bond types, sectors, and issuers is crucial to spread risk effectively. Before investing in long-duration funds, investors should assess the fluctuation of yields and carefully consider the current interest rate environment and the risk of losses if rates rise. Comparing expense ratios and aligning investment goals and risk tolerance are also essential steps to ensure that investors select funds that suit their financial objectives and are comfortable with risk.

#MutualFunds #Long-termDebtFunds #BondMarkets #Investors #InvestmentStrategy

https://www.financialexpress.com/money/mutual-funds-long-term-portfolios-poised-to-generate-favourable-returns-3384059/