With an 8.8% growth rate in 2021, India will regain the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2%, the IMF report said.
Double-digit growth seems optimistic. Modi govt needs to more than double its expenditure to compensate for the losses and avert GDP decline. It's fanciful at best.
As Indian economy shrunk by 23.9%, many were left with prayer to cope with this invisible ‘hand of God’ – they morphed the Go Corona Go chant to Grow GDP Grow.
Former finance secretary Subhash Chandra Garg said a faulty lockdown strategy and an ineffective stimulus have adversely impacted economic recovery. Read his blog here.
For all their colonial underpinnings, postcards from Hyderabad also inadvertently preserve a trace of local memory: a glimpse of a street, a face, a forgotten name.
Indian toymakers are now exploring new markets, but they want govt to negotiate a trade deal with US soon, introduce incentives and subsidies to make the industry more competitive.
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.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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