Most Indians are spending more on essential items than last year while earning either less or the same amount. No wonder they turn to 'buy now, pay later' schemes.
Subsidies are here to stay. Worryingly, subsidy expenditure will likely increase as Indian politicians try to meet a wider set of aspirations through more diverse freebies.
According to govt data, the average all-India retail price of tomatoes was Rs 116.86/kg Saturday, with the maximum touching Rs 250/kg. In Delhi, tomatoes were prices Rs 178/kg.
The Narendra Modi government is looking at ways to check states’ spending on handouts like free electricity and rations. The first step is to tighten the noose on state borrowings.
Budget deficit target is doable, increased capex is a positive & it takes a realistic, if political, view of disinvestment. But protectionism, rising debts, slashed subsidies are problems.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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