The growth projections for the US seem to be at odds with rising probability of recession put out by various agencies. Tariffs may weigh on US & China the most.
The Mohan Yadav govt aims to propel MP’s industrial GDP to Rs 6 lakh cr by 2030. New measures pertain to sectors like manufacturing, logistics, renewable energy, IT, textiles, EVs, etc.
The Union Budget must cut revenue expenditure so growth-boosting tax cuts are possible, while monetary policy should focus on growth-inflation dynamics instead of defending the falling rupee.
Economic growth has become uneven between regions and countries, and within countries themselves—leading to significant inequalities and persistent pockets of poverty.
With Sanjay Malhotra at the helm, RBI could shift towards a more dovish monetary policy, but the conventional policy response of rate cuts will not be a given with rising pressure on rupee.
For India, IMF has maintained its growth estimate at 7% for 2024-25, followed by 6.5 per cent next year. Slowdown from 8.2% growth in 2023 is attributed to exhaustion of pent-up demand.
In his closing column, T.N. Ninan looks back at the forecast that the BRICS economies would overtake the US, Japan, Germany, UK, France, and Italy, and how far that prophecy has been fulfilled.
The S&P Services PMI Index for April also pointed out that the level of job creation had remained static despite the growth in business activity, and that input price pressures remain.
Despite multiple agencies being involved, the US could maintain a clear chain of command. This is something India should consider too, as it defines the theatre command structures.
The latest comment comes as New Delhi and Washington have yet to sign a trade agreement. India’s purchase of Russian oil has reduced, but Moscow remains top source for crude.
Venezuela also boasts of a diverse portfolio of unmanned aerial vehicles capable of carrying out surveillance, reconnaissance and being employed for kinetic purposes as well.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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