The 1991 liberalisation left the financial sector unreformed. The uncompetitive finance system whose growth depends on taxpayer bailouts needs to be replaced.
For India and the EU, the reliance on the US for security needs and on China for goods and services is associated with greater risks and vulnerability to major disruptions.
RBI data shows personal loans tripled in six years, with rising slippages; real wages halved as middle class uses loans to maintain lifestyle fuelled by social media.
Mechanical engineer & alumnus of IIM-A & IAS France, Kota was General Manager in HAL’s Light Combat Aircraft division. He was selected from a pool of eight candidates.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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