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With a slowly recovering economy, the recent spike in COVID-19 cases in India is affecting both the retail and service sectors.
India's job market is tightening, and skilled workers are finding it harder to enter the workforce. Government job drives and the informal economy have been unable to make up the difference.
The number of COVID-19 infections is increasing again in India, but the rate of hospitalization remains low. The surge in cases coincides with the release of a WHO report that has found a higher death toll than reported.
India's budget 2022 plans to ramp up infrastructure spending to support the economy's post-pandemic recovery. Key announcements include a state-backed "digital rupee" and tax on gains from digital currencies.
The US and China spent the most on their military in 2021, accounting for 52% of the total global defense expenditure, according to a new SIPRI report. Russia also saw a spending jump ahead of its invasion of Ukraine.
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