RBI Governor Das further said the central bank will seek to gradually move towards achieving the 4% target, but the possibility of a sustained increase in inflation is unlikely.
The distribution of income and therefore the pattern of economic growth have become a matter of even greater than usual concern, and not just because of obvious humanitarian concern about those being left behind.
The Indian economy was slowing even before the pandemic. Cheery spin can’t hide the mass suffering across the country. Nor should it detract from the long road to recovery ahead.
Except for agriculture and electricity, gas & water supply, no other sector saw output surpassing levels seen in Q1 2019-20. Govt says economy will grow at around 11% in current fiscal.
In absolute terms, the fiscal deficit was at Rs 2,74,245 crore. For the current financial year, the government expects the fiscal deficit at 6.8% of GDP or Rs 15,06,812 crore.
In ‘Securing India’s Rise’, edited by Lt Gen Kamal Davar (retd), Mohan Guruswamy writes that 2010-20 is the lost decade, and recovering from it will take time.
The World Bank said India is particularly vulnerable to sovereign debt and funding risks, especially after the Covid pandemic shuttered businesses and left millions jobless.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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