More Indians losing hope of improved quality of life under PM Narendra Modi, survey shows
New Delhi: A survey revealed that more Indians are losing hope about their quality of life, as stagnant wages and rising living costs dampen future prospects—offering disappointing news for Prime Minister Narendra Modi ahead of the annual budget.
Findings released by polling agency C-Voter revealed that over 37 percent of respondents in a pre-budget survey said they expect the overall quality of life for ordinary people to deteriorate over the next year, the highest such percentage since 2013, as reported by Reuters.
Ongoing food inflation has strained Indian household budgets and reduced spending power, with the world’s fifth-largest economy expected to record its slowest growth rate in four years.
Almost two-thirds of survey respondents stated that inflation has remained unchecked, with prices rising since Modi assumed office as prime minister, while over half reported that the inflation rate has negatively impacted their quality of life, added the news agency.
Nearly half of the respondents reported that their personal income had remained unchanged over the past year, while expenses increased, and nearly two-thirds said rising costs had become difficult to manage.
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Trump says EU has until July 4 to approve last year's trade deal or it will face higher tariffs
Washington (AP): President Donald Trump has said in a social media post that goods from the European Union would face higher tariff rates if the 27-member bloc fails to approve last year's trade framework by July 4.
The announcement on Thursday appeared to be a deadline extension after the president said last Friday that EU autos would face a higher 25 per cent tariff starting this week. Trump made the updated announcement after what he described as a "great call" with European Commission President Ursula von der Leyen.
Still, the US president was displeased that the European Parliament had yet to finalize the trade arrangement reached last year, which was further complicated in February by the US Supreme Court ruling that Trump lacked the legal authority to declare an economic emergency to impose the initial tariffs used to pressure the EU into talks.
"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!" Trump posted. "I agreed to give her until our Country's 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."
It was unclear from the post whether Trump was implying that the tariff rates would jump on all EU goods or the increase would only apply to autos.
His latest statement indicates he might be backing away from his earlier threat on EU autos by giving the European Parliament several more weeks to approve the agreement.
Under the original terms of the framework, the US would charge a 15 per cent tax on most goods imported from the EU.
But since the Supreme Court ruling, the administration has levied a 10 per cent tariff while investigating trade imbalances and national security issues, aiming to put in new tariffs to make up for lost revenues.
