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2025-01-13
Beyoncé trolls Netflix over buffering issues ahead of NFL Christmas Gameday halftime showADB lowers GDP growth projection to 6.5% from 7% NEW DELHI: The Asian Development Bank ( ADB ) on Wednesday lowered India's growth forecast for 2024-25 to 6.5% from the earlier 7%, citing lower-than-expected second quarter growth, driven by dampened manufacturing performance and lagging govt spending. The Manila-based multilateral agency also lowered growth projections for 2025-26 to 7% from earlier 7.2%. It said forecast for FY2025 has been reduced slightly due to lower-than-expected growth in private investment and housing demand, due to tight monetary policy aimed at combating inflation. Downside risks remain from geopolitical threats to supply chains and adverse weather conditions, ADB said in its Asian Development Outlook (ADO). Latest data showed GDP growth slumped to a seven-quarter low of 5.4% in the July-Sept period, dragged down by a slowing manufacturing sector and slowdown in urban consumption. It was below the 7% forecast by RBI for second quarter. The sharp slowdown has prompted a rash of downgrades of overall GDP growth for the full year. The ADB said industrial demand is affected by tighter prudential norms of the central bank for unsecured personal loans and continuation of elevated food prices. Govt's capital expenditure for FY2024 also continues to lag behind budget target, a risk highlighted in previous Sept 2024 ADO. It also said India's growth will remain robust, with the economy supported by higher agriculture output resulting from the summer crop season (which will also put downward pressure on food prices), continued resilience of services sector, and lower-than-expected Brent crude prices in 2024 and 2025. Strong forward looking and labour market indicators (such as PMI for industry and services, urban labour force participation and RBI's industrial outlook) suggest that economic momentum will recover in the coming quarters. Ready to Master Stock Valuation? ET’s Workshop is just around the corner!what is baccarat card game

He is the “Builder Governor.” The lasting impression of Eric Holcomb’s eight-year tenure as governor could be measured on what he built, and how he did so and with the steady assets he had at his command. He calls it the “new Indiana” emerging under his watch. He finished Interstate 69 to Evansville, including the hard part through suburban Johnson and Marion counties, with the new Ohio River bridge into Kentucky sited. He completed the $600 million double-tracking of the century old South Shore Line from Chicago to South Bend at the West Lake spur line. There’s the new $1.2 billion prison at Westville the state is paying cash for. There is the new combined $655 million Indiana Deaf and Blind School campus, the new Fall Creek Pavilion at the State Fairgrounds, the new State Archives Building, as well as the first new state park lodge being built in 85 years. There is the combined $300 million Gov. Holcomb is funneling into the 92 county health departments. There’s the amicable IUPUI divorce with twin campuses rising up just blocks from the state capital. As the governor drove from Culver to Potato Creek State Park this month to monitor the first new lodge since 1939 after the initial groundbreaking 14 months prior, Holcomb told Howey Politics, “I want to be graded and measured on the results, not the rhetoric. We don’t just want to build trails, we want to be the trail leader. We want to finish I-69. “We want to stay state-focused on always trying to do big things,” Holcomb continued. It will take a decade or so to fully know the impacts of Holcomb’s eight years in office. He spent a decade as an apprentice to Gov. Mitch Daniels, serving as deputy chief of staff. While running a campaign for U.S. Senate, Gov. Mike Pence plucked him from relative obscurity to replace Lt. Gov. Sue Ellspermann in March 2016. Four months later after Pence joined the Donald Trump presidential ticket, Holcomb won a second-ballot Republican Central Committee nomination, launching a 106-day come-from-behind victory over Democrat John Gregg. Holcomb had unusual assets. He’s the only Hoosier governor to serve with Indiana General Assembly supermajorities for both entire terms. Earl Goode, his only chief of staff, is finishing an unprecedented 14 years at that job. He signed the most far-reaching abortion restrictions in state history. Holcomb’s Indiana received a stunning $6.7 billion from the Biden administration’s Bipartisan Infrastructure Law, including $868 million for rural broadband expansion and $100 million for electric vehicle charging stations. He never had to deal with a recession. The state’s jobless rate was always below 5%. The Holcomb administration has, so far, been scandal free. The result is what Holcomb calls an emerging “New Indiana.” “For us, when you look at the progress we’ve made across the economic development front, the workforce development front and the community development front, Indiana is a new Indiana,” he said. “We have a New Albany, a New Haven, New Castle, New Carlisle and there truly is almost a new Indiana when you think about our health innovation industry, LEAP, manufacturing of isotopes and planned genetics and where we’re taking life sciences and the future of mobility being determined here. We’re working on small modular nuclear reactors. Being in a center of the country gives us an advantage of being in the core.” And there were galactic challenges. He faced two pandemics, the first was the opioid crisis and a triple-digit increase in overdoses. Then came the COVID-19 pandemic that resulted in shutting down much of society in late March 2020 for several months. Two million Hoosiers were infected and 26,115 died during the most lethal public health episode in state history. There was no written pandemic plan on the shelf other than for the flu. “We were transparent and very accessible,” Holcomb said of the weekly web-streamed press conferences that he held with state health officials such as Commissioner Dr. Kristina Box and Dr. Lindsay Weaver. “It was like Indiana went to Oz and when the curtain was pulled back and they got to see their government, which was just like them,” Holcomb said. Despite the criticism from Republicans like Secretary of State Diego Morales, who said he had overstepped his authority during the pandemic, Holcomb won reelection with 1.7 million votes (56.5%). “I had all kinds of people tell me politically this is going to be the end of me and, lo and behold, we got more votes than anyone who has ever run for governor in the history of this state, still to this day, by the way,” he said. What was the most surprising or gratifying thing he witnessed or learned? “To learn of the innovation and ingenuity that comes off the family farm or the family factory floor or the small business that has been taken to scale by someone needing to solve a problem on a bigger scale,” he said. His biggest disappointment? “I would have liked to see pregnancy accommodations done for the state, not just state government,” Holcomb said. What wisdom would he impart to a future governor? “Approach with the attitude that every day you’re gonna learn if you stay connected to the ground,” he said, adding that in “remaining humble” he was “courageous and forward-looking, understanding you are not going to please everybody all the time.”

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