India to be fastest growing major economy over next 2 years: OECD
K. R. SRIVATS
India’s GDP growth forecast at 7.2% in 2015; global growth projections trimmed to 3%
India is expected to be the fastest growing major economy over the next two years, says a new report from OECD, a club of rich nations.
The main exception to the worsening picture among major emerging economies will be India, this Paris-based think tank said in its interim economic outlook report released on Wednesday.
OECD now sees India’s GDP growth at 7.2 per cent in 2015 and 7.3 per cent in 2016, a tad lower than a projection of 7.3 per cent and 7.4 per cent respectively made in June this year.
In 2015, China is expected to grow by 6.7 per cent and at a slower rate of 6.5 per cent next year.
Brazil’s economy is expected to shrink by 2.8 per cent in 2015 and an additional 0.7 per cent rate in 2016, OECD has said.
The outlook is weaker for many commodity exporting nations, said the report.
The Organisation for Economic Cooperation and Development (OECD) has now trimmed the global growth forecast to 3 per cent this year from the earlier projection of 3.1 per cent.
The rate of expansion next year is expected to be 3.6 per cent lower than the June estimate of 3.8 per cent.
5 Ways To Increase Your Annual Income
Invest in Enriching Your Life and Increasing Your Income
Increasing your annual income has many benefits- mainly, ability to afford a quality lifestyle for you and your family, and also the ability to manage unexpected money requirements.
Here are five practical ways to increase your annual income.
#1: Invest in Yourself – Add Value to Your Self Worth
Investing in yourself will give you disproportionately high return on investment- both for the amount of money invested and the time you spent.
DIY Tips to Invest in Yourself
- Leverage the power of learning. Add a new skill, learn a new language, or try something that’s been on your bucket list.
- Set aside time on a daily or weekly basis to read informative blogs, articles or books.
- Attend a workshop, webinar or training to stay updated on the latest trends.
- Explore your creative side to exercise untapped areas of your mind. This will open up different doors of perception- personally and professionally.
Invest time in taking a sabbatical – Retrospect, introspect and regain your focus
How Does This Increase My Annual Income?
Better skills, greater knowledge and wider perception, all lead to a higher level of opportunities.
#2: Invest Smart – Monetarily not Momentarily
Talking about increasing income is incomplete without considering the actual monetary aspect of investing smart.
DIY Tips to Increase Your Future Annual Income
- Start early-as early as you possibly can
- Invest for the long term
- Make the right investment choices- for long term goals (more than 5 years), invest in equities and short term (less than 5 years), invest in debt instruments.
How Does This Increase My Annual Income?
Increase your profits by investing wisely. Instill a long term perspective to evade myopic results from a short-sighted plan.
#3: Invest in a Long Term Career Path – Map Your Progression Professionally
Mapping your professional interests can help you strategically build your career path.
DIY Tips to Chart Your Career Path
- Do a SWOT analysis on your professional traits. Determine your strengths, weaknesses, opportunities and threats. In this way you can identify the best opportunities that can help you progress with purpose.
- Inculcate a long term vision. Do not let short term challenges come in the way of building your potential in the future.
How Does This Increase My Annual Income?
Being at the right place, at the right time with the right capabilities, tactically improves your career prospects.
#4: Invest in Rewarding Risks – Zone Out of Your Comfort Zone
Taking risks can snap you out of your comfort zone.
DIY Tips to Zone Out of Your Comfort Zone
- Take a chance to challenge yourself. Push your limits beyond the monotony of mediocre tasks. It is a bitter truth that machines will replace you eventually.
- Focus on work that allows you to build your capabilities, even if it means making a drastic change.
How Does This Increase My Annual Income?
Stepping out of your bubble automatically unlocks new possibilities
#5: Invest in Health – Focus on Your Physical, Mental and Social Well Being
The real wealth is in the health and well being of your body, mind and social interaction. While the increase in disposable income may translate to a higher standard of living, it could also lead to increasing health issues.
DIY Tips to Enrich Your Wealth in Health
- Physical Health
- Exercise. If not for the physical benefits, it also helps in reducing your healthcare bills.
- Eat healthy. A home cooked meal is not only healthier but also lighter on the pocket.
- Mental Health – Many occupational lifestyle diseases are creeping into urban population. Maintain a good work-life balance to avoid mental problems such as depression, hypertension and neurological issues.
- Social Well Being – Whether you admit it or not, who you interact with socially and your lifestyle have a big impact on your personality. The social environment you choose to be influenced by will affect the way you think and the decisions you make. Choose wisely.
How Does This Increase My Annual Income?
You become the environment you live in. Make it clean, green and lean on the body, mind and wallet.
Source: Scripbox
Nestle readies war chest to revive Maggi brand by year-end
Nestle readies war chest to revive Maggi brand by year-end
PURVITA CHATTERJEE
MUMBAI, SEPTEMBER 9:
Suresh Narayanan, Managing Director of Nestle India, is on a fire-fighting mission to resurrect the beleaguered Maggi brand before the year-end. The plan includes spending heavily on advertising and brand building initiatives in addition to stepping up consumer engagement on the digital platforms.
Speaking to BusinessLine, Narayanan said, “It is going to cost a lot to resurrect Maggi but it would be less than the ₹450 crore hit that we have taken on the brand.’’
While Narayanan did not disclose the exact amount be kept aside for the brand, insiders said that it can be in the region of ₹300-400 crore.
“Consumers have to place trust in the brand and we will be using the digital platform to build innovation with consumer outposts for building engagement, ’’ added Narayanan.
Nestle will use revenues from other brands such as Cerelac and Lactogen to fund the revival plan. Not all variants of Maggi are going to be back on the shelves.
Six variants
“We will launch about six variants instead of all variants under Maggi. Variants like oats may not be launched right away. Instead, we will bring out the big hitters first and then look at other opportunities. There will be no change in the taste of the 32-year-old tried and tested Maggi,’’ the new head of Nestle’s India operations said.
Roping in celebrities such as Amitabh Bachchan and Madhuri Dixit may not happen immediately either despite the urgency to re-build credibility for Maggi. “We are still evaluating the need for celebrities as we look at the entire value chain of the brand,’’ he said.
Maggi export
Meanwhile, Maggi continues to get exported to seven countries despite it being off the shelves in India.
The Swiss company said there is no difference in the product between the export and domestic markets and continues to be accepted in countries such as the US, the UK, Canada and Singapore.
“We continue to export and Maggi is 100 per cent sourced from India to seven countries with no difference in quality. But exports for the brand are less than 5 per cent of its overall revenues,’’ said Narayanan.
However despite FSSAI banning Maggi, Nestle is not planning to dither from its commitments in the Indian market.
“We have been spending ₹2,500 crore over the past few years in India and will continue to be here till the existence of mankind,” he added.