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Jeet Singh Vol 22 - Issue 43
Saturday, November 25, 2023
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India’s GDP crosses $4 trillion for the first time: Report 2014, $3 trillion in 2019, and $4 trillion in 2023. At present, USA is the world’s largest economy with a GDP of $26.70 trillion, while China is at second place with GDP of $19.24 trillion, Japan is at third place with GDP of $4.39 trillion and Germany is at fourth place with GDP of $4.28 trillion.
According to media reports, on November 19, for the first time, India’s gross domestic product (GDP) crossed the $4 trillion (4 trillion) mark. However, this has not been confirmed yet by the Finance Ministry or the National Statistics Office. India’s GDP was $1 trillion in 2007, increasing to $2 trillion in
India’s anti-terror agency files case against Sikh separatist for Air India threat India’s anti-terrorism agency threats by Gurpatwant Singh has filed a case against a Sikh Pannun, who acts as general separatist leader for warning Air counsel of Sikhs for Justice (SFJ), a India passengers that their lives group campaigning to establish an were in danger and threatening independent Sikh homeland called not to let the flag carrier Khalistan carved out of India The operate anywhere in the world. case against Pannun has been The agency said security registered under provisions of the forces were on alert after the Unlawful Activities (Prevention) Continued on page 6
Canada’s grocery giants reveal new plans to stabilize food prices Almost two months ago Canada’s grocery chain giants promised Ottawa they would roll out plans to lower food prices under threat of new taxes. But for weeks, almost no one would say what those plans were or what they would mean for consumers around the country. Now, the major chains are starting to reveal plans for steeper discounts on staples and price freezes on thousands of packaged goods. But according to some industry observers, it’s not clear if those moves will make a serious dent in inflation.
Former Canucks player charged with fraud A former Vancouver Canucks draft pick has been accused by police of conning a victim out of millions of dollars in realestate investment schemes. Prabhraj Rai, a junior hockey star from Surrey who signed a contract with the Canucks in 2010, was arrested on Tuesday and charged with fraud over $5,000, says RCMP.
The charges come nearly two years after Surrey RCMP’s financial crime unit launched an investigation into Rai after a person complained of losing several million dollars in fraudulent realestate investment opportunities. Police believe that Rai committed large-scale financial fraud between Oct. Continued on page 7
Trudeau to run deeper deficits as Canada tackles housing crunch Prime Minister Justin Trudeau’s government revealed billions in new spending on housing programs and industrial subsidies, expanding Canada’s budget deficit amid the dual pressures of higher borrowing costs and a slowing economy. The total cost of the new tax and spending measures is $20.8 billion (US$15.2 billion) over six years, according to a fiscal update by Finance Minister Chrystia Freeland, who’s planning to borrow more at a time when many economists are concerned with rising interest costs and the risk of a recession. Tuesday’s economic statement doesn’t include a timeline for a return to a balanced budget. It also forecasts a slower decline in Canada’s debt-to-gross domestic product ratio.