Increasing cigarette prices by 50 per cent would help
avoid over 40 lakh tobacco related deaths in India, said a report released by
multilateral funding agency Asian Development Bank (ADB). "A 50 per cent
price increase in cigarettes avoids about 27 million (or 2.70 crore) tobacco-attributable
deaths, most of which are in the two most populous countries in the world.
China would avoids nearly 20 million tobacco deaths, and India over 4 million
tobacco deaths," said the report. For India, it said, the 50 per cent rise
in cigarette prices corresponds to increase of 70-122 per cent rise in tax
increase. As per the report, China, India, Philippines, Thailand and Vietnam in
Asia are among the top five of the 15 tobacco using countries that account for
two-third of the world tobacco consumption. For each of the five most tobacco
consuming countries in Asia, "increasing taxes on cigarettes would result
in substantially fewer long-term smokers and a reduction in premature death…
Indian economy is set to expand at the world's
fastest rate over the next 50 years to emerge as a major force globally, but it
would still rank as the second worst in terms of prosperity of its citizens. Over
the 50-year period between 2011-2060, India will register an annual economic
growth rate of 4.9 per cent, as per a latest report by Paris-based
international grouping of the world's leading economies, the Organisation for
Economic Cooperation and Development (OECD).
India's per-person GDP (measure of well-being of a country's citizens) will
also grow more than 7-fold during this period, but the country will still rank
at second place from the bottom by 2060 in absolute terms, said the report.
India was ranked lowest in terms of per-person GDP in 2011 and its position
would change only marginally to second lowest after Indonesia in 2060, while
China's position will improve considerably from third-worst to 16th from the
On the top, the US would be followed…
of individuals in the country is expected to double to Rs 179 lakh crore
(rpt) Rs 179 lakh crore in the next four years, according to a report
by Karvy Wealth. "The wealth in the hands of Indian individuals
continues to grow at a decent pace," financial services company Karvy's
Chief Executive and Group Head (Wealth Management) Hrishikesh Parandekar
told reporters here. The report says the individual wealth in the
country grew to Rs 92,26,090 crore as on March, 2012 from the year-ago's
Rs 86,49,764 crore. It will almost double to Rs 179 lakh crore (rpt)
Rs 179 lakh crore in the next four years and grow to Rs 214 lakh crore
(rpt) Rs 214 lakh crore in the next year, the report said. Direct
equity will continue to be the largest asset class, while insurance and
fixed deposits and bonds will be joint second, it said. By FY'17-end,
direct equity will form 28.7 per cent of total assets, up from 25.4 per
cent in FY'12, which reflects th…
President Barack Obama and Mitt Romney enter the final sprint before
Election Day essentially deadlocked nationally in what looks set to be one of
the closest presidential elections in U.S. history.
Polls on the state and national level have been, in many
cases, razor close. What happens if the candidates tie in the popular vote? In
the electoral vote? WSJ's Neil King and Professor of Government Linda Fowler
join the News Hub. Photo: AP Images.
A new Wall Street Journal/NBC News poll of likely voters finds Mr. Obama
leading his rival by a nose, 48% to 47%, as the two men crisscross the country
to rally supporters in the states most likely to decide the outcome.
Final polls in many of those states, from Virginia and Ohio to New
Hampshire, Colorado and Wisconsin, also find the race too close to call.
Full results of the Journal poll will be published later Sunday.
The two candidates enter the final stage with firm advantages they had from
the start. Mr. Obama derives his ti…
With Diwali round the
corner, gold investors with their fat 15 per cent gain since last Diwali appear
to be headed for a hat-trick of better returns than stock markets. The returns
from stock markets, as measured by its benchmark index Sensex, has been a fixed
deposit-like gain of about 8.5 per cent for the same period. With the precious
metal rising from Rs 26,700 levels on last Diwali to Rs 30,700 at present, an
investment of Rs 10 lakh has appreciated to close to Rs 11.50 lakh now. The
total gains by Diwali day next week could be even better as some experts
predict that gold may breach its record price of over Rs 32,000 as demand
outstrips supply on days of Dhanteras (November 12) and Diwali (November 13).
While stock markets have also given positive returns since last Diwali, the
performance has not been as robust as the yellow metal. The BSE benchmark
Sensex has risen from near 17,300 levels to 18,755 since last Diwali --
resulting into an appreciation of Rs 10 lakh investment to…