The country is reeling from an economic crisis with inflation surging to 37.97% in May, posting a record for the second consecutive month and also the highest in South Asia.
Medium-term impact of pandemic means some lowering of India's sustainable growth rate is inevitable. The fact that we are fastest-growing in the world is only a relative benchmark.
Such substitution from fiat currencies can make monetary policy less effective, pose threat to nations' financial stability. Policymakers must improve trust in banking systems, currencies.
The International Monetary Fund however warns that there are several downside risks to this outlook and that Asian economies should not become complacent.
In its report, the IMF forecast global real GDP growth at 2.8% for 2023 and 3% for 2024, marking a sharp slowdown from 3.4% growth in 2022 due to tighter monetary policies.
Finance Minister Ishaq Dar was scheduled to attend meetings from 10 April and see top IMF officials and multilateral creditors in a bid to secure stalled funding.
IMF chief Kristalina Georgieva also added that such assistance would be particularly important against the backdrop of high interest rates and currency depreciation.
The island nation will also be the first in Asia to undergo a 'governance diagnostic exercise' by the International Monetary Fund. First tranche of loan to be released in next few days.
When lynching, hate speech and bulldozer politics do not speedily invite the wrath of courts, then something is wrong with the third pillar of governance.
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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