Index of Industrial Production data shows production in several sectors lower than 12 yrs ago. This may be true for some sectors, but also implies data collection process needs an update.
RBI, which has been tightening its policy to tame inflation that hit a 5-month high in September, may have to walk a tight rope if activity does not improve in the coming months.
CARE Ratings data show impact of Covid fear on consumption, reduction in discretionary spends, a drop in demand from hotel, tourism & aviation industries led to a production slump.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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