Weak revenue mobilisation, high spending, low capital outlay limiting state’s fiscal space, says August 2026 NCAER working paper for Niti Aayog. Suggests stronger tax & non-tax revenue mobilisation.
The prospects of the economy generating the resources to discharge the obligations that must be defrayed soon do not look good. It could transmute into a declaration of default.
Around 130 countries attended virtual 'Voice of Global South Summit' Friday. People-centric development finance, inclusive and sustainable energy transition also among takeaways.
IMF chief Kristalina Georgieva also added that such assistance would be particularly important against the backdrop of high interest rates and currency depreciation.
The global economy will have to face the knock-on effects of the Covid crisis, while geopolitical stability will be critically fragile over the next 5-10 years.
Repeated changes in cotton import duty have prioritised textile competitiveness when mills face high input costs. But policy can also put pressure on farmgate prices.
COMMENTS