Rupee depreciation to make durables, cars costly

The sliding down of rupee which has depreciated by nearly 8% against the U.S. dollar during the last one-and-a-half months may make home appliances and cars dearer as the fall in rupee value has put pressure on costs of companies, forcing them to consider increasing the price of their products.

As per experts, the hike in prices may not be good as the consumer sentiment is already low due to factors such as slowdown in the economy and high interest rates.

The decline of rupee has resulted into the higher import costs for companies which buy many spare parts and services from foreign markets. This import cost is putting upward pressure on the overall cost of various products like cars, electronic devices etc.

However, the depreciation in rupee may be good news for the $100 billion domestic IT-ITeS sector, which has been facing strong headwinds due to an uncertain global economy. It may be beneficial as Indian IT industry is majorly export based.

Month: Categories: Business, Economy & Banking

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Norway to become first European nation to extend conscription to women

Norway has decided to with “gender neutral” military conscription after its Parliament reached an agreement to extend the military conscription to women in peacetime. This move will make Norway the only country in Europe to extend its military conscription to women.

It would mean that Norway’s mandatory one-year military service will be extended to women, probably as of 2015.The Defence Ministry of Norway has clarified that the step is not due to lack of conscripts.

Since 1976, Norwegian women have been allowed to do military service on a volunteer. Even before the adoption of a “gender neutral” military service, the Defence Ministry had set a target of 20% women in the armed forces by 2020.

Outside of Europe, some countries such as Israel require both men and women to complete their conscription.

Month: Categories: International

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