India’s economy showed signs a recovery is taking root as waning virus cases and a vaccine roll-out supported sentiment and as focus turns to further stimulus possible in the upcoming federal budget.The needle on a dial measuring overall economic activity was unchanged at 5 last month, indicating the economy was coasting along in the fast lane. Although seven of the eight high-frequency indicators tracked by Bloomberg News held steady and one deteriorated, the gauge uses the three-month weighted average to smooth out volatility in the single-month readings.With new infections dipping sharply over the last few months and a nationwide vaccine roll-out put in place this month, consumer confidence and demand look set to grow further. The recovery might get a boost from fresh stimulus in the upcoming budget, which Finance Minister Nirmala Sitharaman will present Feb. 1, one of the most high-profile and highly anticipated events on the government’s calendar.Business … [Read more...] about India’s economy shows signs of recovery as virus cases decline
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Ambassador Xiong Bo also noted that as Chair of ASEAN and a non-permanent member of the UN Security Council in 2020, Vietnam successfully organised meetings within the East Asia cooperation framework, actively advocated multilateralism and free trade, promoted regional anti-pandemic cooperation, and improved its influence in the region and the world. In particular, the Regional Comprehensive Economic Partnership (RCEP), signed last year, is currently the largest free trade agreement around the globe, he noted, describing this as a success of multilateralism and free trade that will fuel growth momentum for the regional and global economy. The development achievements Vietnam has obtained, especially the successful response against COVID-19, are all attributable to the CPV Central Committee’s steadfast leadership and the people’s support, like in China. This has reflected the unique advantages of the socialist regimes in the two countries, he added. In the interview, the … [Read more...] about Party Congress to create new development momentum for Vietnam: Chinese ambassador