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Mint Profile picture
@livemint
May 15 • 6 tweets • 5 min read Twitter logo Read on Twitter
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#MintPrimer | On 1 May, treasury secretary Janet Yellen sent a letter to the US Congress saying that on 1 June the government is likely to run out of money.

With the government currently breaching its debt ceiling, the situation has become parlous.

Mint explains what’s… twitter.com/i/web/status/1… Image
#MintPrimer | There is a limit set to how much the US government can borrow to meet its legal obligations, which include paying interest on its debt and paying military salaries, tax refunds, and social security, etc.

Read here: livemint.com/news/world/us-… Image
#MintPrimer | Around the world, almost all governments spend more than they earn. This difference is known as the fiscal deficit and is financed through taking on debt.

Read here: livemint.com/news/world/us-… Image
#MintPrimer | The total US government debt to gross domestic product ratio was 63.85% in June 2008. It is now greater than 120%. #GDP is the measure of the size of any economy.

So, the US debt has almost doubled in 15 years.

Read here: livemint.com/news/world/us-… Image
#MintPrimer | The US Congress can permanently raise the debt ceiling or suspend it temporarily or allow the government to go past the debt ceiling without raising it.

Read here: livemint.com/news/world/us-… Image
#MintPrimer | If no consensus is reached before 1 June, the US government will end up defaulting on its legal obligations, leading to huge job losses in the US.

Read here: livemint.com/news/world/us-… Image

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More from @livemint

Mint Profile picture
May 15
#MintLongStory | Produced by over 80 million rural families, milk is the largest farm product valued at close to ₹10 trillion annually, as per official estimates.

Read here: livemint.com/news/india/the… Image
#MintLongStory | The bulk of loss-making cooperatives—55 out of 95 unions—were from Uttar Pradesh, the largest #milk producing state.

Read here: livemint.com/news/india/the… Image
#MintLongStory | It seems practically impossible to merge strong local brands into a national one as states would object vigorously, said Ajay Vir Jakhar, former head of the Punjab Farmers Commission.

Read here: livemint.com/news/india/the… Image
Read 4 tweets
Mint Profile picture
May 15
#MintPlainFacts | The verdict of the #KarnatakaAssemblyElections on Saturday gives all key actors plenty to think about.

Read here: livemint.com/elections/opin… Image
#MintPlainFacts | With the loss of #Karnataka, the #BJP now has chief ministers in nine states, compared with 11 back then. The party’s count of Assembly seats has dropped from 1,364 in May 2019 to 1,304 now.

Read here: livemint.com/elections/opin… ImageImage
#MintPlainFacts | The next round of state elections, in late 2023, will see BJP-Congress faceoffs in Madhya Pradesh, Rajasthan and Chhattisgarh.

Read here: livemint.com/elections/opin… Image
Read 4 tweets
Mint Profile picture
May 15
🗞 In Mint today:

🛂 Visa woes force Indian IT companies to hire locally in US

💰 Adani revives capex plans for new businesses

🥛 Is there room for a dairy behemoth?

🇺🇸 How serious is the US about its debt ceiling?

🗂You can own a piece of your office now

🧵👇
Indian IT companies have been forced to seek an alternative staffing route. They are starting to hire locally in important markets such as the US due to delays in visas for their Indian hires, report @DevinaSengupta and @VaruniKhosla:
livemint.com/news/india/ind…
The Adani group has revived its capex plans after a four-month pause. It will plan an initial investment of $1.5 billion to kickstart two businesses, reports @anirudh_laskar:
livemint.com/companies/news…
Read 6 tweets
Mint Profile picture
Apr 14
#MintPrimer | Demand for refined #petroleum products hit a record in FY23, led by transportation fuel.

The Petroleum Planning & Analysis Cell (PPAC) said consumption reached 222.30 million tonnes in the last fiscal.

Mint explains this spike: livemint.com/industry/energ… Image
#MintPrimer | The 222.30 million tonnes of petroleum products consumed in FY23 was 10.2% higher than the year before. The previous record for consumption came in FY20 at 214.13 million tonnes.

Read here: livemint.com/industry/energ… Image
#MintPrimer | The increase in consumption of #petrol, #diesel & jet fuel during FY23 came on the back of growth in industrial activity & travel.

These activities recovered after slowing down in the previous two fiscals because of the pandemic.

Read here: livemint.com/industry/energ… Image
Read 7 tweets
Mint Profile picture
Apr 14
#MintLongStory | Indians have taken a liking to made-in-India single malts. But brands are struggling with supply and taxation troubles.

(@sayantanbera writes)

Read here: livemint.com/news/india/ind… Image
#MintLongStory | The global market held a promise beyond the over-regulated, complex and heavily taxed domestic market in India. The international accolades, in turn, helped shore up domestic sales.

Read here: livemint.com/news/india/ind… Image
#MintLongStory | About a fourth of the 475,000 cases of single malt consumed within India now comprise home-grown brands, according to estimates from the Confederation of Indian Alcoholic Beverage Companies.

Read here: livemint.com/news/india/ind… Image
Read 4 tweets
Mint Profile picture
Apr 14
#MintPlainFacts | Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by.

Read here: livemint.com/industry/retai… Image
#MintPlainFacts | India’s retail #inflation eased to a 15-month low of 5.66% in March, data released on Wednesday showed.

This is the first time in three months that inflation has come in below #RBI's upper tolerance limit of 6%.

Read here: livemint.com/industry/retai… Image
#MintPlainFacts | The automobile industry recovered the majority of its lost ground in 2022-23, with sales of retail vehicles jumping by 21%.

Read here: livemint.com/industry/retai…… Image
Read 6 tweets

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