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.
Chinese analysis presents India’s retaliation as measured, favouring diplomatic and economic tools over military escalation. Some see it as a sign of underlying vulnerabilities.
Trump has expressed optimism about reaching a tariff agreement ‘pretty quickly’, while Xi said that tariff & trade wars undermine the legitimate rights and interests of all countries.
At some point, Pakistan’s calculation has been, Hindus will rise in reprisal against their own minorities. That’s a crisis ISI has been conjuring up in India. A nation at war with itself.
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