Cost of Living Highlights December 11: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. Since the Russia-Ukraine war broke out, the cost of raw materials and commodities has gone up. This has increased India's payments outgo for oil, gold, and other commodities.
The services sector growth in India fell to a one-year low in November on softer expansions in new work intakes and output, despite receding price pressures, a monthly survey said on December 5. The seasonally adjusted S&P Global India Services Business Activity Index fell from 58.4 in October to a one-year low of 56.9 in November. Despite witnessing a month-on-month decline, the rate of expansion was stronger than its long-run average. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The survey is compiled from responses to questionnaires sent to a panel of around 400 service sector companies.
India's consumer price index (CPI)-based inflation, or retail inflation, might have risen above the RBI's tolerance limit of 6 percent in November, from 4.87 percent in October, according to Barclays' estimates. "We estimate that CPI inflation rose in November to 6.15 percent year-on-year (YoY), a sharp reversal from the moderating trajectory over the past couple of months (October: 4.9 percent, September: 5 percent). Core inflation likely remained stable, and we expect further deflation in fuel prices," Barclays said in a report.
Maharashtra: MSRTC launches digital payment facility on buses
Passengers can now pay for their tickets through UPI on all buses of the Maharashtra State Road Transport Corporation (MSRTC), reported PTI.
The transport body has replaced the old ticketing machines with Android devices for digital payment of bus fares, a spokesperson of the MSRTC told PTI.
The corporation has given around 34,000 Android ticketing machines to conductors, and these devices are equipped with various digital payment facilities.
"The new ticketing machines will generate a QR code, which passengers can scan on their UPI applications and pay the fare," the official told PTI.
Bajaj Allianz Life Insurance unveils Life Ace-Increasing Income plan
Bajaj Allianz Life Insurance has introduced a variation of its participating savings plan, providing customers with a stream of increasing income while also protecting against the impact of rising inflation.
The Bajaj Allianz Life Ace - Increasing Income is a non-linked, participating, individual life insurance savings plan that provides customers with a consistent increase in income while protecting against rising costs. Tailored for a diverse range of customers, this plan allows individuals to save according to their financial requirements and capacity. Read more here
JOBS: 2.1 lakh SMBs, 400 enterprises recruited online via Apna in 2023
Jobs and professional networking platform Apna on Monday said in 2023 it facilitated 56 million job applications across blue, grey, and white collar sectors for 2.1 lakh SMBs and 400 enterprises.
In a statement, Apna said that its users can now apply via web, mobile, whatsapp and email.
The total user base on the platform has reached 51 million, and it aims to enable 3x more businesses by FY25.
Apna helps SMBs and enterprises find skilled employees. Its clients include Swiggy, Axis Bank, Paytm, Kotak Mahindra Bank, Blinkit, Reliance Jio, Zepto, Aditya Birla Capital, Apollo Pharmacy.
10 best laptops under ₹60,000 to ensure performance in budget
Finding a laptop that strikes the perfect balance between performance and budget can be a daunting task. The quest for the ideal computing companion becomes even more critical when you're working within a budget constraint. For those seeking an optimal blend of power, functionality, and affordability, the market offers a myriad of options, and our guide to the best laptops under ₹60,000 is here to streamline your decision-making process. Read more here
Australia announces new student, work visa rules to clamp migration. Here's list of changes
Australian government in order to reduce immigrant intake to the island continent have planned to introduce stringent visa rules for international students, and skilled workers entering the nation. The Australia government plans to continue this for over next two years. Read more here
Realme 12 Pro, Realme 12 Pro+ likely to launch in India soon
Chinese smartphone maker Realme may be close to launching its mid-range Realme 12 series, if the BIS certification for the upcoming smartphones is anything to go by. Realme recently launched its flagship Realme GT 5 Pro series in China to give tough competition to smartphones like the OnePlus 12. Read more here
Gold prices fall by ₹95 to ₹61,624 per 10 grams
Gold prices on Monday fell by ₹95 to ₹61,624 per 10 grams in futures trade as speculators reduced their positions.
On the Multi Commodity Exchange, gold contracts for February delivery traded lower by ₹95 or 0.15 per cent at ₹61,624 per 10 grams in a business turnover of 15,203 lots.
Globally, gold was trading 0.06% lower at $2,013 per ounce in New York.
Real estate sector sees robust growth in demand, sales in 2023: NoBroker
In 2023, the Indian real estate sector witnessed robust growth in demand for property buying, surging rentals, and soaring property prices, according to a No Broker report. Most Grade A builders have experienced over 50% growth in sales, over the previous year.
With new launches lined up, the gap between demand and supply will reduce which will eventually result in controlled price appreciation and rental surge. The sudden spikes that were witnessed in the past six months will transition towards a smoother upward trajectory, gradually moving toward stabilization, said Saurabh Garg, Co-founder & Chief Business Officer, NoBroker.
Another notable trend has been the heightened interest in Indian real estate from NRIs. The depreciation of the rupee against major global currencies, together with stable economic conditions in India have enhanced the appeal of Indian real estate, the report pointed.
Cost of living surges in Canada leading to reverse immigration
The rate of immigrants leaving Canada hit a two-decade high in 2019, according to a recent report from the Institute for Canadian Citizenship (ICC), an immigration advocacy group. While the numbers went down during pandemic lockdowns, Statistics Canada data shows it is once again rising.
Many immigrants are battling for their survival in Canada as the country's cost of living surged over time. The recent data showed that in the first six months of 2023, some 42,000 individuals departed Canada. As many as 93,818 people had left in 2022 and 85,927 exited in 2021, Reuters reported citing the official data on Saturday.
Fuel price in metro cities on December 11, 2023 | New Delhi
Fuel rates are revised at 06:00 A.M every day. Since June 2017, fuel prices in India have been revised daily, and this is called the dynamic fuel price method.
PETROL (Rs/L) - 96.72
DIESEL (Rs/L) - ₹89.62
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