The G20 President, India's neighbours Sri Lanka, Pakistan and Bangladesh have recently sought IMF loans due to high oil prices, and the economic damage from the pandemic.
Economists have warned the IMF aid could prove inadequate to avert a default crisis, unless Pakistan secures additional external financing it expects from West Asian partners.
Bihar has lowest own tax revenue, Punjab high committed expenditures, while Rajasthan has deviated from fiscal deficit target. Such states need to balance vote bank & fiscal prudence.
Nishank Rathore, 20, was found dead on railway tracks soon after a post about 'beheading' as punishment for insulting Prophet appeared on his Instagram profile. Police deny foul play.
At a meeting with chief secretaries of states, Union Finance Secretary T.V. Somanathan made a presentation that highlighted a worrying rise in debt in some states.
Punjab's finances the biggest challenge facing the AAP govt about to table its first budget. ‘Increasing revenue without imposing new taxes’ priority, says finance minister Cheema.
PM Shehbaz Sharif said that a life of debt is no life. But a look at the history of Pakistan’s loans suggests his predecessors perhaps lacked economic wisdom.
As is common in populist regimes, critics objecting to elevation of crank theories to official policy were painted as foreign agents or nattering nabobs of negativity.
At 53% in 2021-22, Punjab has worst debt-to-GSDP ratio. CAG data shows UP’s interest payments have grown by 6% in 5 years. Andhra’s outstanding debt hit Rs 3.89 lakh crore in 2021-22.
Central bank communication now holds as much significance as central bank action. A single clause in a press conference can move markets more than a 25-basis-point adjustment.
Order for 87 MALE drones will be split between 2 Indian firms in 64:36 ratio to ensure there are 2 independent manufacturing lines with at least 60% indigenous components.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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