![]() ![]() Airports also represent a country's window on the world.Likewise, 97% of the country's foreign tourists arrive by air and tourism is the nation's second largest foreign exchange earner. Better cargo handling facilities lead to enhanced levels of importation, especially of capital goods and high-value items. While cargo carried by air in India weighs less than 1% of the total cargo exported, it accounts for 35% of the total value of exports. The quality of airport infrastructure, which is a vital component of the overall transportation network, contributes directly to a country's international competitiveness and the flow of foreign investment. Role of Airport Infrastructure in National EconomyĪirports being nuclei of economic activity assume a significant role in the national economy. As this is a capital-intensive sector, there is an obvious need for perspective planning with a vision for the next twenty years and to muster the combined resources of the public and private sectors, both domestic and foreign. In this context, it is vital that airport infrastructure grows in anticipation of the escalating needs of the air transport industry. It is now increasingly recognised that aviation, far from being a mere mode of transportation for an elite group, is crucial for sustainable development of trade and tourism. Continuing claims rose slightly to just below 1.5 million, though the four-week moving average remained at its lowest level since 1970.In our journey towards the twenty-first century when the Indian economy is all set to integrate itself into the global economy, the upgradation and modernisation of infrastructure and its efficient use have assumed critical importance. In other economic news, jobless claims for the week ended March 5 totaled 227,000, higher than the 216,000 estimate and up 11,000 from the previous week, the Labor Department said. On Thursday, the European Central Bank said it was not moving its benchmark interest rate but would end its own asset purchase program sooner than planned. ![]() Global prices are subject to many of the same factors hitting the domestic economy, and central banks are responding in kind. However, inflation is not a U.S.-centric story. It will be the first time the central bank has raised rates in more than three years, and mark a reversal of a zero interest rate policy and unprecedented levels of cash injections for an economy that in 2021 grew at its fastest pace in 37 years. #DEPARTMENT OF LABOR ONLINE NETWORK RADAR OPERATORS SERIES#To try to stem the trend, the Federal Reserve is expected next week to announce the first of a series of interest rate hikes aimed at slowing inflation. Recent surveys, including one this week from the National Federation of Independent Business, show a record level of smaller companies are raising prices to cope with surging costs. Moreover, business are raising costs to keep up with the price of raw goods and increasing pay in a historically tight labor market in which there are about 4.8 million more job openings than there are available workers. Prices at the pump are up about 24% over just the past month and 53% in the past year, according to AAA. New car prices rose 0.3% for the month and 12.4% over the 12-month period.Ī raging crisis in Europe has only fed into the price pressures, as sanctions against Russia have coincided with surging gasoline costs. Used car and truck prices actually declined 0.2%, their first negative showing since September 2021, but are still up 41.2% over the past year. Vehicle costs have been a powerful inflationary force but showed signs of easing in February. The New York Fed's supply chain index shows pressure has eased in 2022, though it is still near historically high levels. Policymakers have been expecting inflation to abate as supply chain issues ease. ![]() ![]() Inflation has roared higher amid an unprecedented government spending blitz coupled with persistent supply chain disruptions that have been unable to keep up with stimulus-fueled demand, particularly for goods over services. The inflation surge is in keeping with price gains over the past year. "The market likely already priced the inflation increase in accordingly, and is instead intently focused on Ukraine and the downstream impact from commodities, which are already sending shockwaves through the market." "Inflation is coming in hot but the reality is there are no real surprises in this report," said Mike Loewengart, managing director of investment strategy for E-Trade. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |