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Rs 1 lakh salary in India? Guess what you need in the US for same lifestyle. CA breaks it down
A Chartered Accountant (CA) has broken down the stark difference in purchasing power between India and the US, revealing that a salary of Rs 1 lakh in India requires nearly three to four times more in the US to maintain a similar lifestyle. This disparity is due to Purchasing Power Parity (PPP), which highlights cost variations in essentials like rent, food, and internet. For example, a meal costing Rs 300 in India is Rs 1,700 in the US, while rent for a similar space jumps from Rs 50,000 to Rs 1.6 lakh.
'We are scratching our heads': Trump imposes 29% tariff on tiny, remote Australian island with barely any exports
US President Donald Trump did not even spare tiny, remote Australian island from his sweeping tariff. Trump has imposed a 29 percent tariff on Norfolk island which barely has any exports. US data shows it has had trade deficits with island for past 3 years and island's main industry is tourism, say business owners.
Trump tariffs are ‘disaster’ for the world’s poorest countries
US President Trump's new reciprocal tariffs will heavily impact some of the world's poorest countries, with rates up to 50%. These tariffs could undermine their labor-intensive export industries, pushing these nations to seek markets in Europe, Japan, and Australia. US aid cuts and China's growing influence exacerbate the situation.
Trump tariffs pile stress on ailing world economy
The recent round of U.S. trade tariffs by President Trump is anticipated to weaken a recovering global economy, potentially leading to a recession. Economists warn that these tariffs could increase prices and dampen demand, disrupting global supply chains and fueling inflation. The varying impact on national economies could have significant consequences, particularly for trade-dependent countries.
RBI appoints Poonam Gupta as deputy guv to steer monetary policy
Gupta succeeds Michael Debabrata Patra whose five-year term ended in January. In the interim, deputy governor M Rajeshwar Rao has been overseeing monetary policy. The choice of Gupta - an expert in developmental economics and international trade - reflects the government's focus on economic policy amid global uncertainty driven by US tariffs and trade war.
Who is Poonam Gupta, new deputy governor at RBI set to replace Michael Patra?
Poonam Gupta has been appointed as the Reserve Bank of India's Deputy Governor, succeeding Michael Patra. Gupta, a Lead Economist for India at the World Bank, brings extensive operational and policy experience, previously working at NCAER, World Bank, IMF, and other prestigious institutions.
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Poonam Gupta, former World Bank economist, appointed as RBI's deputy governor ahead of MPC meet
The Reserve Bank of India (RBI) has appointed Poonam Gupta as its new Deputy Governor. Gupta, who currently serves as the Director General at the National Council of Applied Economic Research (NCAER), will succeed Michael Patra in the role. This appointment is part of the ongoing leadership changes within the RBI.
100,000 rubles for a baby? Russia is offering cash to schoolgirls to have kids
Authorities in Russia's Oryol region are offering school-age girls 100,000 rubles to have children. This move aims to address Russia's falling birth rate and support young mothers. The payments will be available from 2025 to 2027. The policy has received criticism, but officials defend it as support for young mothers.
India receives over $100 billion remittances for three consecutive years
Overseas Indians sent home a record $129.4 billion in 2024, with $36 billion in the December quarter alone. India has topped global remittances for over 25 years, driven by skilled migration to developed economies and the GCC. Despite inflation, remittances surged 63% since the pandemic, reaching nearly $100 billion for the third consecutive year.
India could benefit from reciprocal tariffs even as world fears Trump threats. 3 reasons why
India faces minimal macro impact from Trump's proposed tariffs and may even benefit. A resilient domestic economy, reduced reliance on exports, and China's trade losses could create new opportunities for India, bolstering its long-term economic and market prospects.
Bangladesh's Chief Adviser Yunus meets Chinese President Xi Jinping
Chinese President Xi Jinping and Bangladesh's Chief Adviser Muhammad Yunus discussed reducing interest rates for Chinese loans and enhancing economic and trade cooperation during Yunus's visit to China. Meetings also included discussions on relocating Chinese industries to Bangladesh, Russian wheat and fertilizer exports, the Rooppur Nuclear Plant project, and Bangladesh's participation in China's Belt and Road Initiative.
India offered $3.73 bn loans to 6 partner countries during 2022-2025, Parliament told
India commits USD 3.73 billion in new loans to six partner countries under the Lines of Credit and Concessional Financing Scheme from January 2022 to January 2025. Additionally, India receives significant external assistance from various multilateral and bilateral sources, totaling over Rs 2,71,243 crore during April 2022 to March 2025.
India’s onerous taxes are a buzz-kill for likes of Carson Block
Global funds are gradually returning to India's stock market, overcoming high taxes despite concerns expressed by investors like Carson Block. While India has yet to reform its capital gains tax to attract more foreign capital, some investors are finding ways to navigate the tax landscape by establishing local operations or investing in rupee bonds sold overseas.
There ain't no Golden Age-Just Trump, turmoil, and financial freefall
Donald Trump’s economic proposals threaten to destabilize the dollar as the global financial anchor. Analysts fear this could return the world to a gold standard, despite past challenges, leading to potential financial instability and crises without US-led global economic leadership.
India must brace for 9-10% power demand surge in 2025 amid rising temperatures, warn experts
Experts warn that India should prepare for a 9-10% increase in peak electricity demand this summer due to rising temperatures and more heatwaves. Electricity consumption, particularly from households, has grown rapidly, driven by economic growth and a rising need for cooling. Increased air conditioner sales and energy inefficiency raise concerns about future energy demand and climate impact.
"Potholed roads are Chennai's hallmark...": Karti Chidambaram questions Corporation's study tours to Europe, says 'visit Indore first'
Congress MP Karti Chidambaram criticized the Chennai Corporation for sending officials to Europe to learn waste management techniques, questioning the implementation of ideas from previous tours. He highlighted the city’s poor garbage management and suggested that officials first visit Indore, known for its effective waste management, before considering international trips.
India must brace for 9-10% power demand surge in 2025 amid rising temperatures, warn experts
India is expected to see a 9-10% rise in peak electricity demand this summer due to more heatwaves, driven by climate change. Experts highlight the surge in air conditioner sales and the rising household electricity consumption. Concerns are raised regarding energy inefficiency of air conditioners and the need for sustainable cooling solutions to combat emissions.
Heatwaves hit early as India faces extreme summer, rising risks to health and economy
By February's end, Goa and Maharashtra faced heatwaves, making it the hottest month in 125 years. With temperatures rising, India's health and economy are at risk. Rivers are drying up, and without mitigation, food production, water stress, and job losses will worsen. Effective heat action plans are necessary.
India's financial system resilient, diverse: IMF report
IMF's latest report highlights the resilience and diversity of India's financial system, driven by rapid economic growth and effective crisis management during the pandemic. The system's stability is bolstered by NBFC growth, regulatory enhancements, and strong insurance sector performance. However, some banks and NBFCs need to bolster capital and cybersecurity measures to improve overall resilience.
What are the issues in US talks with Ukraine and Russia?
U.S. and Russian officials are in talks to secure a broad ceasefire in Ukraine, focusing on a Black Sea maritime ceasefire and other key issues like ending attacks on energy infrastructure and prisoner exchanges. Discussions also cover NATO membership, post-war security, and economic investments, including Ukraine's natural resources and nuclear power plants.
Paris Agreement execution key focus for COP30 host Brazil
Brazil, hosting the UN climate talks (COP30), aims to enhance Paris Agreement implementation. President designate Andre Correa do Lago emphasizes wider global participation, involving institutions like IMF and World Bank. Key focus is India's involvement, recognizing its importance in climate decisions, and collaboration within multilateral platforms like BASIC, BRICS, and G20.
Why India needs a strategic cryptocurrency reserve, before it’s too late
You’re at a dinner gathering. You know, the kind where arguments break out over everything from politics to sports. Then someone, usually the "finance guy" of the group, leans in and says, "If only we had bought Bitcoin 10 years ago."
Tripura govt presents Rs 32,423.44 crore tax free budget, proposes 13 new schemes
Tripura Finance Minister Pranajit Singha Roy presented a Rs 32,423.44 crore budget for 2025-26 with no new tax proposals and a focus on capital expenditure. The budget includes 13 new welfare schemes, centers for competitive exam coaching, a shelter for visitors in Agartala, and a pension scheme for mentally challenged individuals.
World Bank may drop ban on funding nuclear power: Ajay Banga
World Bank President Ajay Banga has urged the board to reconsider its ban on funding nuclear power projects, emphasizing the potential of small nuclear reactors for green energy in poor nations. The proposal, awaiting discussion, aims for a comprehensive energy policy by June 2026, encompassing various energy sources.
India, Brazil key to global climate action as Global North fails to show way: COP30 prez
COP30 President Andre Correa do Lago emphasized the pivotal role of the Global South, particularly countries like India and Brazil, in addressing climate change. With developed nations lagging, Brazil aims to implement climate commitments beyond the Paris Agreement, stressing urgent action and international cooperation among developing countries.
US delays $2.6 billion climate finance package to South Africa, Bloomberg news reports
The U.S. is delaying $2.6 billion in climate finance to South Africa, raising concerns about potential withholding of the funds. This includes preventing a $500 million disbursement from the Climate Investment Funds, which would unlock an additional $2.1 billion, with reconsideration possible in June.
$300 billion question: What to do with Russia's frozen central bank money?
European nations are considering seizing $300 billion in frozen Russian assets to support Ukraine amid concerns about the move violating international law and destabilizing financial markets. Supporters argue the funds should help rebuild Ukraine, while opponents fear legal and financial repercussions, including potential responses from countries like Russia and China.
Andhra Cabinet approves land allocations to various entities in Amaravati
The Andhra Pradesh Cabinet, led by CM N Chandrababu Naidu, approved various initiatives for Amaravati, including land allocations and changes to construction contract regulations. It authorized significant expenditure and contract implementation for CRDA and Amaravati Development Corporation Ltd. The Cabinet also sanctioned free power for weavers, investments by SIPB, and renaming YSR District to YSR Kadapa District.
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