The finance ministry has proposed productivity tests for railways, road transport, shipping, and metro rail projects to evaluate their impact on the economy and people’s lives. The Niti Aayog will monitor the data generated by these tests and provide recommendations. A study will also be conducted to assess the optimal share of different modes of transportation for freight and develop a plan to rationalize it.
US stocks: US market falls as hot inflation, hawkish Fed fuel rate-hike fears
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening.