"Slap On Our System": Misbah's Scathing Remark On Mickey Arthur's 'Return'

Former Pakistan skipper and coach Misbah-Ul-Haq opines that the likely re-hiring of Mickey Arthur as national men side's coach is a "slap on Pakistan Cricket". Arthur is likely to return to Pakistan as its team director following Pakistan Cricket Board (PCB) chief Najam Sethi's arrival. Misbah blamed former Pakistan players for damaging the credibility of the system and making PCB look outside the home territory for coaching roles. Pakistan's talks with Arthur had failed earlier on three occasions, but PCB kept persisting. Arthur had previously coached the side from 2016 to 2019. It is understood that the board is close to agreeing to a deal with him as a team director, rather than a head coach.

If Arthur goes ahead with the role with PCB, it will be his second concurrent coaching role as he is currently in a long-term deal with Derbyshire. Arthur does not want to end his county stint and both sides have agreed to let him have both jobs. In an unusual arrangement, he will not be there with the Pakistan team, but will have handpicked people running the operations for him.

"It is a slap on our cricket system that we are not able to find a high-profile full-time coach," Misbah told ESPNcricinfo.

"It is a shame that the best ones do not want to come and we insist on having someone who is looking at Pakistan as a second option.

"I blame our own system, which is vulnerable enough with so many weak lines for anyone to exploit it. We are to be blamed ourselves that we have disrespected and discredited our own people to make a bad image. The present and former lot do not respect each other, with media and former players using their own YouTube channels for ratings, grossly hitting the credibility and value of our cricket which, as as result, gives an impression that we are not capable."

"The Pakistan cricket fan is always disgruntled; he is picking up things from the media and is under the wrong impression. Players speaking against each other with grudges and talking openly with disdain just devalues our community, and that becomes the common perception. Our cricket has been constantly under pressure with wavered and subjective opinions. The game is hardly a subject of objective and constructive discussion."

"Cricket is the most popular sport in the country but sadly never hits the headlines in the right way. It is chaos; former cricketers ridiculing their fellow cricketers on national channels with fans getting the wrong sense. There is no empathy, no respect, and no conducive environment in the cricketing quarter of our country," Misbah concluded.

Arthur's previous stint as head coach concluded after a fifth-place finish in the 2019 50-over World Cup. PCB Cricket Committee had recommended not to renew his contract. Misbah was a part of the committee as well and was one of the men responsible for his release.

Notably, it was Misbah who succeeded Arthur as coach and went on to have heavy influence in Pakistan cricket by taking over the role of the chief selector as well. He resigned as coach in September 2021, with an year left in his tenure.

There has been a lot of debate about hiring of foreign or local coaches in Pakistan and Misbah alleged that PCB bureaucracy handled each coach differently and it is the local ones who face more scrutiny.

"PCB is always ready to back foreign coaches but never supports the local ones," Misbah said.

"They are fond of having overseas coaches because they think locals can easily be politicised and are not capable, but do we know it's the PCB bureaucracy who politicised the structure? They throw the local ones under the bus when they come under pressure and there has never been accountability of the bureaucracy in PCB. It's the mismanagement and the consistent changes at the helm that is a problem and we are never able to find one solid line for our cricket."

"Now there is a common narrative that Pakistan cricket does not even have a single capable guy and they are forced to look outside. Successful teams like India have completely shifted to homegrown coaches but sadly the policies here are so inconsistent and vague that we are never able to reach a consensus on what we want to do. We have some very good people in our system who can contribute well like Haji (Mohammad Akram), Aaqib Javed, Inzamam-ul-Haq, Waqar Younis, etc. but their reputation has been tarnished so badly and people think they are not right for the job," concluded Misbah.

During the tenure of former PCB chief Ehsan Mani, the board tried to pull in modern players into the working structure but many of them were reluctant to join because of the board's inherent instability.

Wasim Akram for example distanced himself from a PCB job and Inzamam ul Haq did not take a long-term role either after completing his tenure as chief selector.

Under Mani, PCB had developed a blueprint to develop home-grown coaches and revamped the National Cricket Academy. It was turned into a high-performance centre for development of players and coaches. A number of coaches were recruited in the system. But on the arrival of Ramiz Raja as PCB chief, the culture of foreign coaches started at the grassroots and domestic level.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Gautam Adani Tells Investors FPO Called Off Due To "Market Volatility"

Billionaire Gautam Adani today said the "interest of my investors is paramount and everything else is secondary" as he explained the decision to call off a blockbuster share sale amid plunging stocks after a US short-seller's critical report.

In an address to investors, Mr Adani said the decision "would have surprised many" but considering the volatility of the markets yesterday, the Adani Board strongly felt it would not have been morally correct to proceed with the FPO.

"In my humble journey of over 4 decades as an entrepreneur I have been blessed to receive overwhelming support from all stakeholders particularly the investor community. It is important for me to confess that whatever little I have achieved in life is due to the faith and trust reposed by them. I owe all my success to them. For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Mr Adani said in his video statement.

Adani Enterprises announced its decision late last night to call off its Rs 20,000-crore Follow-on Public Offer (FPO) and said it will return the proceeds to investors, a day after the FPO was fully subscribed.

Adani Group companies lost nearly $86 billion in the stock market with shares in Adani Enterprises plunging 28 per cent and Adani Ports and Special Economic Zone dropping 19 per cent, the worst day on record for both.

Mr Adani said once the market stabilized, the group would review its capital market strategy.

"This decision will not have any impact on our existing operations and future plans. We will continue to focus on timely execution and delivery of projects. The fundamentals of our company are strong. Our balance sheet is healthy and assets, robust. Our EBIDTA levels and cash flows have been very strong and we have an impeccable track record of fulfilling our debt obligations. We will continue to focus on long term value creation and growth will be managed by internal accruals," Mr Adani said.

"We have a strong focus on ESG and every business of ours will continue to create value in a responsible way. The strongest validation of our governance principles, comes from several international partnerships we have built across our different entities. I take this opportunity to thank our investment bankers, institutional investors and shareholders from within and outside the country for giving unflinching support to the FPO," he added.

The FPO sailed through despite a scathing report by US-based short-seller, Hindenburg, that pummeled stocks in Adani group companies. Hindenburg Research's January 24 report flagged concerns about the group's high debt levels and its suspected improper use of tax havens.

The Adani group released a 413-page response, calling the report a "calculated attack" on India and its institutions.

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India Register Historic First With T20I Series Win Against New Zealand

The Indian cricket team completely outplayed New Zealand in the 3rd T20I of the series, securing a 168-run to wrap up the series 2-1. In what was the second-highest victory for a team in T20Is (for Test playing nations) and the highest against a Test-playing nation, the Hardik Pandya-led side also became the first team in the history of the game to secure 50 T20I series wins at home. The 2-1 triumph marked a half-century for the Indian cricket team when it comes to T20I series triumphs at home.

It was Shubman Gill who laid a strong foundation for India, scoring his maiden ton in the format. In the process, Gill completed centuries in all three formats of the game, a feat not held by many in the game.

Gill recorded his maiden T20 century for India as he steered the team to 234-4 after they elected to bat first at the world's biggest cricket ground in Ahmedabad.

Indian bowlers skittled out the Kiwis for a paltry 66 in 12.1 overs for a 2-1 series win. The hosts had whitewashed the Kiwis in three one-day matches.

The huge victory was India's biggest ever in T20 internationals and the biggest margin by runs in a match played between two Test-playing nations.

Gill put on 103 runs for the fourth wicket with skipper Hardik Pandya, who made 30 and then took four wickets with his pace bowling, at the 132,000-seater Narendra Modi Stadium.

New Zealand made a horrendous start to their mammoth chase as they lost their top four for just seven runs inside three overs as Arshdeep Singh struck twice in the second over of the innings.

Suryakumar took two spectacular catches at first slip off Pandya's pace bowling to send back Finn Allen, for three, and Glenn Phillips, for two.

Tearaway quick Umran Malik bowled Bracewell before Daryl Mitchell, who made 35, and skipper Mitchell Santner attempted to resist.

Arshdeep, Umran and Shivam Mavi took two wickets each.

With AFP inputs

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Adani Board Cancels FPO: Gautam Adani Says "Not Morally Correct" To Go Ahead

Adani Enterprises Ltd has called off its Rs 20,000-crore share sale, saying it would not be "morally correct" in the current "volatile" market condition. Adani Enterprises chief Gautam Adani has said although the FPO closed successfully yesterday, "the market has been unprecedented (today), and our stock price has fluctuated over the course of the day".

"Given these extraordinary circumstances, the Company's board felt that going ahead with the issue will not be morally correct," he said in a statement.

"The interest of the investors is paramount and hence to insulate them from any potential financial losses, the Board has decided not to go ahead with the FPO," he added.

Thanking the investors, he said, "Despite the volatility in the stock over the last week, your faith and belief in the Company, its business and its management has been extremely reassuring and humbling".

Shares of the Adani Group firms had slumped amid concerns over a report by US-based short seller Hindenburg Research which flagged concerns about the group's high debt levels and its suspected improper use of tax havens. The report was released on January 24 -- the day the Rs 20,000-crore follow-on share sale opened for anchor investors.

Adani Enterprises has rejected the allegations. In a statement on Sunday, it said the conduct of the American firm "is nothing short of a calculated securities fraud under applicable law".

"This is not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India," the statement said.

"Hindenburg has not published this report for any altruistic reasons but purely out of selfish motives and in flagrant breach of applicable securities and foreign exchange laws," it said. "The report is neither 'independent' nor 'objective' nor 'well researched'."

The FPO was subscribed over 1.25 times for institutional investors, people familiar with the matter have said.  

The shares of the flagship firm, however, nosedived again on Wednesday in what was the fifth straight day of losses. Adani Enterprises stocks were down 30 per cent on the Bombay Stock Exchange minutes before the scheduled close.

In the statement, Mr Adani said their "balance sheet is very healthy with strong cashflows and secure assets, and we have an impeccable track record of servicing our debt".

The decision to call off the share sale "will not have any impact on our existing operations and future plans," he said.

"We will continue to focus on long term value creation and growth will be managed by internal accruals. Once the market stabilizes, we will review our capital market strategy. We are very confident that we will continue to get your support. Thank you for your trust in us," he added in the statement.

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India Ride On Gill's Ton To Secure Historic T20I Win, Secure Series 2-1

Shubman Gill smashed a whirlwind unbeaten maiden century in the shortest format as India thrashed New Zealand by 168 runs, their biggest ever win in terms of runs, in the third and final T20 International to pocket the hard-fought series 2-1 here on Wednesday. India's second highest margin of victory was 143-run win over Ireland in Dublin in 2018. Gill continued his fine form and showcased his array of shots, hitting the New Zealand bowlers to all parts of the Narendra Modi Stadium to score 126 not out off just 63 balls balls with the help of 12 fours and seven sixes. Riding on Gill's brilliance, India posted 234 for 4 after electing to bat.

New Zealand never got going in the huge chase as Indian bowlers performed in unison to bowl out the visitors for a mere 66 in 12.1 overs, the third lowest score for the Kiwis in this format.

Skipper Hardik Pandya led the bowling department with figures of 4/16, while Umran Malik (2/9), Shivam Mavi (2/12) and Arshdeep Singh (2/16) scalped two wickets each.

New Zealand lost Finn Allen in the fifth ball of the opening over bowled by Pandya, caught by Suryakumar Yadav.

Left-arm pacer Arshdeep struck with his first delivery, as Devon Conway lobbed a fuller delivery to Pandya at mid-off.

New Zealand continued to lose wickets as Mark Champman got a faint inside edge which went straight to Ishan Kishan off Arshdeep's last delivery of the over.

Wickets kept on tumbling like of pack of cards for New Zealand with Glenn Phillips becoming the next victim, caught by Suryakumar at slips off Pandya.

Down at 13 for 4 after three overs, it was all but over for New Zealand.

The situation became even worst for New Zealand when Michael Bracewell was cleaned up up by a fast delivery from Umran Malik.

New Zealand skipper Mitchell Santner (13) and Daryl Mitchell (35) then added 32 runs for the sixth wicket before Shivam Mavi dismissed the former, caught by Suryakumar at deep midwicket fence as the left-hander tried to heave a short ball.

Mavi struck again a ball later, removing Ish Sodhi (0) caught by Tripathi at backward point as New Zealand slumped to 53 for seven in nine overs.

Thereafter, it was just a formality for India and the hosts romped home in style.

Earlier, the start was far from rosy for India after electing to bat as Mitchell Santner made a master-stroke decision by handing Michael Bracewell the second over and the off-spinner reposed his captain's faith by removing an out-of-form Ishan Kishan, who was adjudged LBW with the second ball of the over.

In-form Gill struck two boundaries off Lockie Ferguson in the next over.

Gill was at his ominous best, be it pick up hits, drives or pulls to continue his onslaught.

He hit Blair Tickner for three fours in the fifth over as India reached 44 for 1.

Young Rahul Tripathi (44 off 22), who has immense potential but yet to fire in the series, then struck Ferguson for a boundary and a six in consecutive balls to keep up the tempo.

Tripathi then pulled Santner over short-fine leg before coming down and lofting the left-arm spinner for a straight six.

Tripathi showed his attacking class and dispatched Ish Sodhi over extra cover for his third six of the innings but perished in the next ball in search of one too many, holing out at deep square leg to Ferguson.

Gill reached his maiden T20I fifty off 35 balls with a single off Santner.

While Gill held one end, Suryakumar Yadav (24 off 13) showed glimpses of his class but fell in the 13th over, brilliantly caught by Bracewell at mid-off as the batter mistimed his shot.

Gill brought up his century with a four over the mid-off fielder off the bowling of Ferguson in the first ball of the 18th over.

He broke free and clobbered Ferguson over mid-wicket for a huge six in the next ball.

It was mayhem as skipper Pandya (30 off 17) too went ballistic.

But it was Gill who stole the show as he continued with his attacking shots after the ton, finding the boundaries at will as New Zealand attack looked listless.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Budget 2023: PM Aawas Yojana Budget Allocation Hiked For Rural Areas

As Finance Minister Nirmala Sitharaman announced an increase in the Budget outlay for the Pradhan Mantri Aawas Yojana (PMAY), allocating around Rs 79,000 crore for the flagship scheme, Budget documents show the hike is primarily in the rural component of the plan.

The finance minister on Wednesday said the allocation to the both components of the PMAY -- the Pradhan Mantri Awas Yojana (urban) and the Pradhan Mantri Awaas Yojana (gramin) -- has been raised by 66 percent.

In the budget presented on Wednesday, the government has earmarked Rs 25,103 crore for the urban component of the scheme, while Rs 54,487 has been allocated for the rural component, making it a total of Rs 79,590 crore.

In the last fiscal, Rs 20,000 crore was allocated for the urban component of PMAY, while the revised estimate for the expenditure was Rs 28,708 crore. The allocation made to PMAY-U under the 2023-24 Budget is around 12 percent lower than the revised estimate for the last year.

The revised estimate for expenditure on the rural component of the scheme was Rs 48,422 crore, almost two-and-a-half times more than the original allocation of Rs 20,000 crore.

The hike in the allocation of the rural component of the scheme compared to the revised estimate of last fiscal is also around 12 percent. Altogether, the allocation for PMAY -- rural and urban -- made initially in the Budget 2022-23 was Rs 48,000 crore, which brings the hike announced by the Minister to the tune of 66 percent.

However, the revised estimates, which is a mid-year review of expenditure, pushed the total spending to Rs 77,130 crore. And when compared to the revised estimate, the increase in allocations this time is around three percent.

On December 19 last year, the Union Housing and Urban Affairs Ministry had told Rajya Sabha that against the validated demand of 1.12 crore houses, as on December 12, 2022, 1.20 crore houses have been sanctioned by the ministry based on the project proposals submitted by states and union territories.

The Pradhan Mantri Awas Yojana-Urban has been extended till December 31, 2024 for completion of already sanctioned houses.

The PMAY-G was launched in November 2016 with the aim of providing around three crore pucca houses with basic amenities to all eligible homeless families living in kutcha and dilapidated houses in rural areas by 2024. According to the Economic Survey tabled in Parliament on Tuesday, a total of 2.7 crore houses have been sanctioned and 2.1 crore of them completed by 6 January 2023 under the scheme in rural areas.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Sensex Gains 450 Points Ahead Of Budget, Nifty At 17,792

India's Predicted XI, 3rd T20I: Will Gill Make Way For Prithvi Shaw?

Team India registered a six-wicket victory against New Zealand in the second T20I in Lucknow on Sunday to level the three-match series 1-1. The match turned out to be a low-scoring thriller as both the team struggled to put up a good show with the bat. Asked to bowl first, the Hardik Pandya-led side restricted the visitors for 99/8 in 20 overs. However, the hosts also lost some wickets in the chase but Suryakumar Yadav anchored the innings and took Team India across the line with one ball remaining. The result of the three-match series will now be declared in the third and final T20I on Wednesday in Ahmedabad. In the second match, Team India's top-order miserably failed to get a big score. This might open a door for batter Prithvi Shaw in the Playing XI. 

Here's our predicted India XI for the third T20I:

Prithvi Shaw: As Shubman Gill failed to deliver a good performances in the first two matches, the management might give a chance to Prithvi Shaw in the third T20I. The 23-year-old batter, who played his last international match in 2021, had a blistering run in domestic cricket this year.  

Ishan Kishan: The wicketkeeper-batter played yet another poor knock in the second T20I and got dismissed for 19 off 32 balls. He will look to redeem himself in the third match. 

Suryakumar Yadav: The star batter came as a savior for India and remained unbeaten at 26 to take the hosts across the line in the second match. He will now eye a bigger innings in the third T20I. 

Rahul Tripathi: After falling for duck in the first T20I, Tripathi was dismissed for 13 in the second match. The 31-year-old batter really needs to deliver a good performance in the next match. 

Hardik Pandya: The skipper scalped one wicket and leaked 25 runs in his 4-over spell. Later, he stitched a match-winning partnership with Suryakumar Yadav, where he contributed with 15* runs. 

Deepak Hooda: The right-handed batter did not bat in the second T20I but gave a good performance with the ball. In his 4-over quota, he took one wicket and conceded only 17 runs.

Washington Sundar: The all-rounder conceded 17 runs and took one wicket in three overs. Apart from this, he also scored 10 runs before he was run out. 

Kuldeep Yadav: The left-arm wrist spinner gave a good performance as he took one wicket and leaked only 17 runs in four overs. 

Arshdeep Singh: The young India pacer, who had a forgettable outing in the first T20I, redeemed himself in the second match as he scalped two wickets and conceded only 7 runs in two overs. 

Shivam Mavi: The right-handed pacer went wicketless and turned out to be expensive as he gave away 11 runs in one over. 

Yuzvendra Chahal: The veteran spinner replaced Umran Malik and strengthened India's spin attack. Chahal bowled two overs in the second T20I and gave away only four runs for two wickets.

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Live Market Updates: Nifty, Sensex Set To Rise Higher Ahead Of Budget 2023

Cheteshwar Pujara Starts Preparation For Border-Gavaskar Trophy. See Pics

India middle-order veteran Cheteshwar Pujara has started preparations for the upcoming Border-Gavaskar Trophy Test series against Australia, which will be starting from February 9 onwards. The batter took to Twitter and shared some pictures from a practice session. "Getting ready for India vs Australia," tweeted Pujara. It will be important for Team India that this batter displays his grit, determination and steely approach to batting to the fullest against a world-class Australian bowling attack. He was in fine form last year. In five Tests and 10 innings in 2022, Pujara scored 409 runs at an average of 45.44. He scored one century and three half-centuries last year.

Getting ready for vs pic.twitter.com/g8c1RRqUbO

— Cheteshwar Pujara (@cheteshwar1) January 31, 2023

His century came after 1,400-plus days back in December last year. Before this, he had hit a century in January 2019. Two years of inconsistent form followed the batter as he could average only 20.37 (2020) and 28.08 (2021) and scored a total of 865 runs in 18 Tests and 34 innings with seven fifties.

But a stint with Sussex county in England turned around things for him. In his eight matches for Sussex during the County Championship, he scored 1,094 runs at an average of 109.40. He scored five hundred-plus scores in the championship in 13 innings, with the best score of 231. He was the fourth-highest run-scorer in the championship.

Pujara is the sixth-highest run-scorer in history of the Border-Gavaskar Trophy. In 20 matches and 37 innings, he has scored 1,893 runs at an average of 54.08 with five centuries and 10 half-centuries and the best score of 204.

The batter's peak performance in BGT came back in 2018-19 in Australia, where he topped the batting charts and won the 'Man of the Series' award. In four matches and seven innings, he scored 521 runs at an average of 74.42, with three centuries and a fifty. His best individual score was 193.

In the 2020-21 edition of the series, which saw India making history and winning the series 2-1 after battling the absence of star batter Virat Kohli, poor performance in the first Test which saw them get all out for just 36, racism and injuries to key players, Pujara was one of India's brightest stars. In four matches and eight innings, he scored 271 runs at an average of 33.87, with three fifties and a best of 77. His best performance was a knock of 56 during the final Test at The Gabba in Brisbane, which saw him overcome a lot of body blows to steer his team to a win, which was Aussie's first Test loss at the venue since 1988.

The series is a big one for both teams as they look to nail down a spot in the World Test Championship (WTC) final. The series begins in Nagpur on February 9 with Tests in Delhi, Dharamsala and Ahmedabad.

Australia is at the top of WTC standings with a win percentage of 75.56 and have won 10 Tests, lost one and drawn four. India is at the second spot with a win percentage of 58.93 and have won five Tests, lost four and drawn one.

India's Test squad for the first two Tests against Australia: Rohit Sharma (Captain), KL Rahul (vice-captain), Shubman Gill, Cheteshwar Pujara, Virat Kohli, Shreyas Iyer, KS Bharat (wk), Ishan Kishan (wk), R. Ashwin, Axar Patel, Kuldeep Yadav, Ravindra Jadeja, Mohammad Shami, Mohammed Siraj, Umesh Yadav, Jaydev Unadkat and Suryakumar Yadav.

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Watch: Pollard Smashes Ball Outside Stadium In ILT20. Passerby Does This

The ILT20, being held in the UAE, has seen some great on-field action. On Sunday, whirlwind half-centuries from Muhammad Waseem, Kieron Pollard and Andre Fletcher helped MI Emirates record a whopping 241 for 3 in 20 overs. MI Emirates' left-arm medium pacer Fazalhaq Farooqi, with a deadly three-wicket spell, backed by Zahoor Khan and  Imran Tahir with two wickets each, then bowled out Desert Vipers for a paltry 84 runs in 12.1 overs for a massive 157 runs win in the 21st match of the franchise league at the Sharjah Cricket Stadium on Sunday.

UAE's Waseem set the tempo for this superlative show from MI Emirates scoring a spectacular 86-run knock off 44 balls with 11 boundaries and four sixes. Fletcher, who played second fiddle, scored 50 off 39 balls with four boundaries and two sixes. Together they put on an opening partnership of 141 runs in 12.3 overs. After this show from the openers, skipper Kieron Pollard hit a 19-ball unbeaten half-century studded with four boundaries and four sixes. He added 89 runs in just 5.2 overs along with Dan Mousley, who cracked an unbeaten knock of 31 runs off 17 balls with three fours and two sixes.

The match was also witness to a funny incident. Mousley, while facing the bowling of Matheesha Pathirana, hit a huge six that landed outside the stadium. A passerby picked up the ball and then walked away. That was not all as Pollard too hit a maximum that landed outside the stadium. This time, however, a man who was walking down the road threw the ball back inside the stadium.

Watch: Pollard Lands Ball Outside Stadium In ILT20. Passerby Does This

When it's raining s, There are 2 types of cricket lovers..
1. Pick and run
2. Pick and return
Which category are you?

Book your tickets now : https://t.co/sv2yt8acyL#DPWorldILT20 #ALeagueApart #DVvMIE pic.twitter.com/P0Es01cMz8

— International League T20 (@ILT20Official) January 29, 2023

MI Emirates not only recorded the highest score of the tournament but also the biggest victory of the tournament. Incidentally, this is also the second-highest score in a T20 league at the Sharjah Cricket Stadium after Balkh Legends had piled up 244 for 6 in 20 overs against Kabul Zwanan in the 2018 Afghanistan Premier League.

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Inflation In India Likely To Fall To 5% In 2023, 4% In 2024: IMF

Inflation in India is expected to come down from 6.8% in the current fiscal year ending March 31 to 5% the next fiscal, and then drop further to 4% in 2024, the International Monetary Fund (IMF) said on Tuesday.

"Inflation in India as in other countries is expected to come down from 6.8% in 2022 to 5% in 2023 and then 4% coming towards the target in 2024," Daniel Leigh, Division Chief, Research Department of the IMF told reporters.

"That partly reflects the central bank's actions," he added, According to the World Economic Outlook update released by the IMF on Tuesday, about 84% of countries are expected to have lower headline (consumer price index) inflation in 2023 than in 2022.

Global inflation is set to fall from 8.8% in 2022 (annual average) to 6.6% in 2023 and 4.3% in 2024 -- above pre-pandemic (2017–19) levels of about 3.5 percent, it said.

The projected disinflation partly reflects declining international fuel and non-fuel commodity prices due to weaker global demand. It also reflects the cooling effects of monetary policy tightening on underlying (core) inflation, which globally is expected to decline from 6.9% in the fourth quarter of 2022 (year over year) to 4.5% by the fourth quarter of 2023, the IMF said.

“Still, disinflation will take time: by 2024, projected annual average headline and core inflation will, respectively, still be above pre-pandemic levels in 82% and 86% of economies,” it said.

In advanced economies, annual average inflation is projected to decline from 7.3% in 2022 to 4.6% in 2023 and 2.6% in 2024 -- above target in several cases. In emerging markets and developing economies, projected annual inflation declines from 9.9% in 2022 to 8.1% in 2023 and 5.5% in 2024, above the 4.9% pre-pandemic (2017–19) average, the IMF said.

In low-income developing countries, inflation is projected to moderate from 14.2% in 2022 to 8.6% in 2024 -- still high, but close to the pre-pandemic average, it further said.

In a blog post, Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF, wrote that global inflation is expected to decline this year but even by 2024, projected average annual headline and core inflation will still be above pre-pandemic levels in more than 80% of countries.

“The inflation news is encouraging, but the battle is far from won. Monetary policy has started to bite, with a slowdown in new home construction in many countries. Yet, inflation-adjusted interest rates remain low or even negative in the euro area and other economies, and there is significant uncertainty about both the speed and effectiveness of monetary tightening in many countries,” Gourinchas said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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"What's Your Problem?": Buttler, Rassie's Altercation Caught On Stump Mic

South Africa took an unassailable 2-0 lead over England in the three-match ODI series, after claiming a five-wicket win in the second ODI on Sunday. Asked to bat first, the visitors posted 342/7 in 50 overs after Jos Buttler and Harry Brook played top knocks of 94* and 80 respectively. However, the game completely turned upside down in the second innings when South Africa skipper Temba Bavuma smashed 109 off 102 balls as the hosts chased down the target with five wickets and five balls to spare. Apart from such a spectacular win, one moment which grabbed everyone's attention was the banter between Jos Buttler and Rassie van der Dussen that was caught on stump mic.

In the 19th over of South Africa's chase, a conversation between England skipper and wicketkeeper Buttler, Jos Buttler, and van der Dussen was captured on the stump mic. Buttler was heard saying, "I am trying to get to the ball” to which Dussen says “I saw”.

Jos Buttler is at it again.#SAvsENG | #Proteas https://t.co/d4724m1ws7 pic.twitter.com/TSn9OdaK3M

— PEAK (@ThePeakSA) January 29, 2023

The conversation then got intense when Buttler said, "What's your problem Rassie. It's not all about you all the time. I am allowed to try and catch the ball”. Later, the umpire entered as a peacemaker and asked both players to calm down. 

Coming to the match, Bavuma sent England in to bat, reasoning correctly that there could be early life in the pitch. England struggled initially, losing both openers inside the first seven overs, but prospered as batting conditions eased.

Harry Brook, playing in his second one-day international after being dismissed for naught in the first match on Friday, made 80 off 75 balls. Captain Jos Buttler hit an unbeaten 94 off 82 deliveries.

Moeen Ali was also in fine form for England, hitting 51 off 45 balls and sharing a fifth-wicket stand of 106 with Buttler.

There was a brief lull after Ali's dismissal but England scored 60 runs off the last four overs, with Sam Curran hitting three sixes in scoring 28.

Bavuma and Quinton de Kock made a fast start, putting on 77 for the first wicket in 12 overs. All the South African batsmen made contributions and the hosts were always up with or close to the required rate. David Miller hit 58 not out off 37 balls and finished the match with a six off Chris Woakes.

(With AFP Inputs)

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