Victory has been declared in all kinds of areas, from the quality of our airports to vaccination numbers. But there is also much that is wrong, much that looks dangerous.
India's forex reserves have been consistently depleting for the past few months, on account of RBI's likely intervention in the market to defend the depreciating rupee.
India’s sobriety and balanced approach has been a complete contrast to Sri Lanka and ranks as one of the better national economic policies anywhere in the world.
While RBI move to allow export/import to be invoiced in Indian rupee will solve some problems, there is no guarantee it will circumvent payment issues with Iran or Russia.
The rupee slid as much as 0.6% on Monday, after having hit a series of recent lows. The benchmark S&P BSE Sensex Index slid about 2.8%, and bonds also declined.
The bearish forecasts stem from a deterioration in India’s external finances. Higher oil prices threaten to widen the current-account deficit to at least 3% of the GDP.
Geopolitical tensions, supply side bottlenecks and post-Covid rise in demand are likely to disrupt inflation calculations. Lack of a clear RBI signal could even affect the rupee.
Open to public feedback until 26 November, the revised guidelines, among other changes, give CA firms more flexibility to advertise & promote their services.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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