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.
India should have secured greater savings by pressing Russia for prices nearer the cap while sustaining high volumes. This would have preserved strategic autonomy and served economic logic.
One such website has drawn particular scrutiny for spreading fake stories that have upset not only the Indian but also foreign defence firms by falsely attributing misinformation.
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