US wholesale prices increased at a faster pace in April, according to fresh government data. The rise, driven by a sharp increase in the cost of services, suggests that inflation continues to be a concern. This presents a challenge for the US Federal Reserve as it tries to keep inflation in check.
Chief Economic Advisor Anantha Nageswaran stated that various initiatives from the government and growing investment will lead to the creation of more job opportunities in the coming decade. He highlighted the decline in capital formation and credit growth in the last decade but expressed hope for a turnaround. He mentioned the decline in employment in agriculture and the addition of jobs in manufacturing, services, and construction sectors. Nageswaran also discussed government initiatives for job creation and the need for improvement in regulatory and tax policies.
India has called for prioritising issues such as access to finance including trade finance, manufacturing concentration, food security, and reducing transaction costs in international trade and services for discussions in various bodies of the World Trade Organization (WTO).
The Unique Identification Authority of India (UIDAI) has clarified that no Aadhaar numbers have been cancelled and announced that they are addressing the grievances of Aadhaar number holders. This clarification came after West Bengal Chief Minister Mamata Banerjee alleged that the BJP government deactivated Aadhaar cards in the state.
