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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.
Drought in India

Global GDP could fall 20% over next 80 years due to climate change, economists warn

According to an analysis, tropical and subtropical countries whose average temperatures are already warmer than 15° C today face catastrophic economic degradation.
Representational image

Modi govt’s policy adventurism and misplaced priorities messed up Indian economy

Sincerity not shrewdness should drive public policy, especially economic policies. Modi government should know that packaging can only go a little far.
World Bank headquaters in Washington | Commons

World Bank forecasts worst recession in eight decades due to coronavirus

Global gross domestic product will probably shrink 5.2% in 2020, the World Bank said in its semi-annual Global Economic Prospects report.
Garment Factory in Bangladesh | Wiki Commons

With a 6% growth forecast, Bangladesh is set to be world’s fastest growing economy

Bangladesh’s 6% growth forecast is lower than previously targeted 8.2% & down from 8.15% a year ago, but it’ll be an outlier in a world set to contract.
Commuters take the Woodlands Causeway to Singapore from Johor a day before Malaysia imposes a lockdown on travel on 17 March | ANI Photo via Reuters

Asia’s cautious reopenings mean economic recovery will be slow and uneven

After an era that saw a boost in tourism and freer capital markets, an Asia disconnected from the world would be a major step back.

India’s 50-day lockdown has brought economic misery even as Covid cases surge

Indian economy is headed for its first annual contraction in 40 years and the human cost has piled up in the form of hunger and untreated disease.
Representational image. Workers are not returning to their workplaces reopen slowly in India. Photo | Bloomberg

India is reopening its economy but millions of workers are staying at home

As India begins gradually easing the Covid lockdown, reopening the economy isn’t going to be a straightforward exercise, businesses say.
People queue up to buy vegetables | Photo: Manisha Mondal | ThePrint

India sees widest budget gap in 6 years as it breaches target on poor tax collection

The slippage adds to the challenges faced by PM Modi, who is trying to salvage growth that has ground to a halt due to a nationwide lockdown to curb Covid-19 spread.
The RBI logo

There’s no need for RBI to be coy about financing deficits

With India’s GDP set to shrink, RBI needs to think beyond cutting interest rates and flooding banks with liquidity.

On Camera

Nambi Narayanan

Justice for ISRO’s Nambi Narayanan — how fake ‘spy scandal’ ruined India’s interest

In episode 548 of #CutTheClutter, Shekhar Gupta elaborates on the ISRO ‘spy scandal’ of the 1990s, a fake plot concocted by IB & Kerala Police.
The RBI logo

RBI to transfer Rs 57,128 crore surplus, but govt’s fiscal woes unlikely to ease

RBI’s transfer is slightly less than the Rs 60,000 cr estimated in Budget 2020-21, and is unlikely to plug the hole in revenues due to Covid and the lockdown.

Defence

Representational image of the Indian Army in Ladakh | ANI File Photo

‘Multiple’ India-China clashes occurred along LAC in May and June, some lasted all night

These clashes and brawls led to injuries on both sides. ITBP, which guards LAC, has recommended 21 for gallantry awards. 
Illustration: Soham Sen | ThePrint

Modi redefined secularism with Ram Mandir as Hindu voters were fed up of Sonia-Left version

Assumptions that Indian secularism died with Ram Mandir bhoomi pujan are bunk. It is enshrined in the Constitution, and is worth preserving.