World Bank chief David Malpass said the organisation wants to avoid a situation where a significant amount of its assistance is used to service past borrowing.
In Bihar’s Sitamarhi, women from the families of migrant workers say they are forced to borrow from private money lenders as their husbands and sons are left with no income source.
Debt sales by state entities may have also widened fiscal deficit for 2019-20 to 10.2% of GDP from 9% estimated before coronavirus outbreak, HSBC says.
Proponents of deficit spending argue central banks are exhausted & that massive fiscal spending is needed to yank companies & households out of their funk.
Govt needs to facilitate wage-intensive manufacturing by ensuring labour law reform, a competitive rupee, efficient infrastructure and supply-chain development.
It is necessary to break the spell of socialist dogma on the imagination of those attracted by its Utopia as the only scientific way of progress, wrote MA Venkatarao in 1963.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
COMMENTS