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A man cycles past closed shops on a deserted road amid curfew in Srinagar Tuesday | Azaan Javaid | ThePrint

Modi govt’s economic package for J&K is just cosmetic without political stability

There is a serious investment aversion in J&K today and deep uncertainty about the future. Most businesses with loans to pay off are unlikely to survive.
People on bike passing through a deserted market in Hyderabad on 26 June (representational image) | ANI Photo

Indian economy contracts by 23.9% in Covid-hit Q1 of 2020-21, fiscal situation worsens

Manufacturing, construction, hotels and transport are among the worst-hit sectors. Tax revenues have contracted by 42% in the April-July period.
Image: Ramandeep Kaur | ThePrint

Govt finances deteriorating. Postpone fiscal deficit goals, make economics more transparent

Fiscal deficit for 2020-21 was pegged at 3.5 per cent of GDP in Budget 2020. But Covid and the lockdown have made sure this is impossible to achieve.
Indian currency

Fiscal deficit, coronavirus make India’s high-yielding bonds the least popular in Asia

Overseas funds have sold $14.6 billion of Indian corporate and government bonds this year, the most among emerging-Asian nations.
(Photo for Representation)

With tax revenues at only 8% of full year targets, India’s fiscal deficit zooms in Q1

Data released by the Controller General of Accounts showed that contraction in tax revenues and rising expenditures pushed the fiscal deficit to over Rs 6.6 lakh crore in first quarter.
Prime Minister Narendra Modi | Photo: ANI

With fiscal deficit rocketing, Modi govt may have to go back to RBI for support: Economists

Facing fiscal deficit of 7%, Modi govt can get the Reserve Bank of India to buy sovereign bonds directly or boost dividends to help supplement revenue.
Martin Wolf, chief economics commentator, Financial Times

India should spend more to revive demand, not worry about deficit: Economy expert Martin Wolf

Speaking at ThePrint's OffTheCuff, Chief Economics Commentator at The Financial Times Martin Wolf said India can afford to increase its debt-to-GDP ratio to 90%, but should avoid borrowing in foreign currency.
Uday Kotak

Govt’s immediate priority has to be to address loss of lives and livelihoods: Uday Kotak

Speaking to ThePrint’s Editor-in-Chief Shekhar Gupta at Off The Cuff, Kotak Mahindra Bank MD & CEO Uday Kotak said govt could explore direct cash transfers route if needed.
A man drinks tea as he walks past the Reserve Bank of India (RBI) headquarter building in Mumbai

Fiscal deficit zooms to 4.6% in 2019-20, up from 3.8% estimate. Tax hit, lockdown to blame

A sharp fall in tax revenues and lower-than-estimated nominal GDP has pushed the fiscal deficit ratio to levels last seen in 2012-13.
Finance Minister Nirmala Sitharaman announcing details of the Modi govt's Rs 20 lakh crore economic package Wednesday | Photo: ANI

Sitharaman says more support measures not ruled out but will depend on how pandemic evolves

In her interviews to three newspapers, Finance Minister Nirmala said no decision on monetisation of deficit has been taken yet.

On Camera

A man cycles past closed shops on a deserted road amid curfew in Srinagar Tuesday | Azaan Javaid | ThePrint

Modi govt’s economic package for J&K is just cosmetic without political stability

There is a serious investment aversion in J&K today and deep uncertainty about the future. Most businesses with loans to pay off are unlikely to survive.
Pedestrians walk past an HSBC Holdings Plc bank branch in Hong Kong | Anthony Kwan/Bloomberg

HSBC orders social media blackout fearing ‘negative reactions’ after suspect funds report

HSBC is one of about 90 banks named in leaked documents that show about $2 tn in transactions between 1999 and 2017 were flagged as possible money laundering or other criminal activity.

Defence

A file photo of Pangong Lake in Ladakh | Visharad Saxena | Special arrangement

14 hours of India-China talks fail to break logjam, more rounds of negotiations ahead

Top military and diplomatic officials met Chinese officials Monday. India maintained its stand of complete disengagement during the 14-hour talks.
Illustration: Soham Sen | ThePrint

Suspect all, fix all? Is that the motto of our new ‘National Suspicion State’?

It’s not just Modi government or BJP, but even state governments, judiciary are getting caught in a ‘we suspect all’ mindset. Is India becoming a National Suspicion State?