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New Delhi: Predicting a 7.6 percent growth rate for India, research firm Moody’s Analytics on Thursday warned that the economic expansion might slow down due to lack of reforms.
The economic research and analysis firm’s India forecast said that “The economy will likely expand 7.6 percent in 2015 thanks to lower interest rates. A lack of reforms could derail medium-to-long term growth prospects.”
The report, “India Outlook: Waiting for Reforms to Fuel Growth”, said that “Green shoots are slowly emerging, but the government’s failure to deliver promised reforms is the major impediment.”
Moody’s Analytics’s associate economist and author of the report Faraz Syed cited key reforms such as the land acquisition bill, flexible labor laws, and the goods and services tax (GST), which have the ability to propel India’s growth.
However, these key reform bills are still in parliament’s ambit and the government has till now failed to create a consensus to get them passed.
“Without a majority in the upper house, the ruling Bharatiya Janata Party’s power has been nullified and the opposition has blocked proposed reforms,” the report said.
On the bright side the report predicts another interest rate cut by the Reserve Bank of India (RBI) this year. The decision, it informed, will be on the back of better rains, lower commodity prices and strong external balances.
India Inc. has been demanding a rate cut as it believes that this may be the last time in this calendar year for RBI to ease lending before inflation spirals and the US Fed decides on its own rates in September.
The Indian monetary policy review by the RBI is scheduled for August 4.
“We expect at least one more benchmark rate reduction in 2015 to complement the 75 basis points already delivered this year,” the report predicted.
“Accommodative monetary policy will lift GDP to 7.6 percent in 2015, increasing to 8 percent in 2016.”
The economic research firm pointed out that tampering with the central bank’s independence would make it difficult to anchor inflation expectations and weigh on India’s economic prospects, particularly financial market stability.
Recently, the government introduced a draft financial code which proposes to clip the RBI’s wings.
The code, if implemented, will undermine RBI’s ability to rein-in inflation. This will also discourage investors from taking risks in the future as the RBI is viewed by many as an anchor for financial stability in the country.
“India’s monetary policy, with Governor Raghuram Rajan at the helm, has been effective. However, a recent draft bill could undo the RBI’s good work,” the report elaborated.
“Moving to the new model would severely dent the RBI’s competency: credibility would be lower, politics would drive decisions, and transparency would be reduced.”
The Cupertino-based tech giant Apple has started rolling out iOS 12.5.5 to older models of the iPhone and iPad. "This update provides important security updates and is recommended for all users," Apple said in the release notes for iOS 12.5.5.
The update is available for the iPad Air, the iPad mini 2, and iPad mini 3, as well as the 6th gen iPod touch, iPhone 5s, iPhone 6, and iPhone 6 Plus. All of these devices were dropped from support with iOS 13. The iOS 12.5.5 update addresses issues related to maliciously crafted PDFs, web content, and apps.
ALSO READ: The September Event Of Apple Inc.
Apple had previously rolled out iOS 12.5.4 in June with security fixes for WebKit vulnerabilities and other issues. Apple has also started seeded the first betas of iOS 15.1 as well as iPadOS 15.1. After removing SharePlay in iOS 15 beta 2, Apple has re-enabled the feature in the iOS 15.1, iPadOS 15.1, and tvOS 15.1 betas. Apple decided to pull SharePlay from the iOS 15 launch because it was not properly functioning and was still riddled with issues.
It adds features to the Health app like support for storing health-related data for Covid-19 immunisations and test results. With the latest iOS 15.1 Beta, one can now add vaccination cards to the Apple Wallet application. (IANS/ MBI)
Keywords: Apple, iPhone, iPad, iOS, update
The National Basketball Association (NBA) and Lakme Fashion Week, announced a collaboration to celebrate "NBA 75" the leagues landmark 75th Anniversary Season in 2021-22. As part of the collaboration, the NBA and Lakme Fashion Week will offer fashion designers from across India the opportunity to submit designs for an "NBA 75" collection. Select designs will be evaluated by a panel comprised of fashion designers, industry experts and local influencers, with the winning designer announced at the upcoming October edition of Lakme Fashion Week.
The winner will then be mentored by a leading fashion expert and will work alongside the NBA on a capsule collection to commemorate NBA 75. The NBA 75 range, which will include jerseys, t-shirts, headwear, sweatpants, hoodies, jackets and other apparel, will be unveiled at Lakme Fashion Week in March 2022.
"We are excited to collaborate with Lakme Fashion Week and offer Indian designers the chance to express their vision in celebration of NBA 75," said NBA Asia Executive Vice President & Managing Director Scott Levy. "The NBA and its players are synonymous with fashion and culture, and this friendly competition will showcase the talent and passion that Indian designers have for basketball and the NBA during our landmark 75th Anniversary Season." The collection will be available for purchase after the event on the NBAStore.in and at select retail destinations. (IANS/ MBI)
Keywords: NBA, Lakme, beauty, basketball, Lakme fashion week
Clean beauty products are making inroads and have gained a significant share of the beauty market, with more more people becoming aware of the their benefits. With each passing year thanks to technology, research and development natural ingredients have finally regained their place in the spotlight. Don't take our word for it, beauty icons Kriti Sanon and Shanaya Kapoor also believe in natural and clean beauty products, and associate with the 'Naturali' range launched by RP-Sanjiv Goenka Group. The new age nature-inspired personal care brand aims to provide a one-of-a kind experience to their customer infused with trendy natural ingredients delivering quick visible results.
Hair care ambassador Kriti Sanon said, 'I am extremely thrilled to be associating with Naturali haircare range that is infused with modern, trendy natural ingredients which are free from harmful chemicals. I have always been an ardent supporter of the 'no nasties' proposition when it comes to my hair care needs, hence this association came very naturally to me. Everyone knows that natural products are supposed to be good for you, but they are often believed to be slow in giving results. Naturali changes this, as the range has a unique SuperBlend of complementary natural ingredients, that are optimized to give you quick visible results. As a woman myself, I strongly believe that no woman should ever have to compromise especially with respect to her beauty choices. So, it is extremely fulfilling to see a brand that is not only good for you being free from harmful chemicals but also makes you look good.'
Clean beauty products are making inroads and have gained a significant share of the beauty market, with more more people becoming aware of the their benefits. | Photo by Brooke Lark on Unsplash
Bollywood debutante and skincare ambassador Shanaya Kapoor said, 'It is exhilarating to be associated with Naturali Skincare range. It's a brand that I feel complements my personality and I'm sure, just like me, a lot of young women are going to instantly connect with it. It's trendy, unapologetic, true to its claims, and most importantly takes charge. What resonated with me the most was the fresh take Naturali offers on nature-based skincare, the exciting ingredients - Avocado, Tea Tree, Red Raspberry coupled with the free from harmful chemicals promise. As someone who's had to deal with her fair share of skin problems like pimples while growing up, I am certain this range is going to be very useful for girls out there and I can't wait for them to try it out!'
Shashwat Goenka, Sector Head, Retail & FMCG said, 'There has been a paradigm shift in how Indian consumers, especially the younger, more conscious generation, engage with beauty products today. They are looking for a holistic and transparent approach towards beauty and wellness that is result-oriented. However, despite there being a burgeoning rise in the demand for natural beauty products, the personal care 'free from nasties' segment is still underpenetrated in terms of mass, affordable players. And that's where we come in - Naturali, a personal care brand infused with natural ingredients that are efficacious and free from harmful chemicals. The range is also available at pocket-friendly price points to the masses, a first for the segment."
He further added, 'We are very glad to announce Kriti Sanon as the face of the Naturali haircare range while Shanaya Kapoor represents the skincare offerings. We are a new, bold, and trendy brand and we wanted to associate with individuals who could help bring out and advocate these values. Kriti and Shanaya are a perfect choice as both are young, vivacious, and personally, resonates with our natural first proposition.'
The brand is backed by a SuperBlend technology that offers a combination of two modern, efficacious, natural ingredients like Avocado and Charcoal, Moringa and Avocado, Red Onion and Bhringaraj, Tea Tree & Avocado amongst others.
(Article originally published by: N. Lothungbeni) (IANS/ MBI)
Keywords: Beauty, skincare, Kriti Sanon, Shanaya Kapoor, clean beauty