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.
The US Federal Reserve in its latest monetary policy meeting Wednesday left key interest rate unchanged at 5.25-5.50 per cent 'in order to keep the demand in line with supply and reduce inflationary pressure'.
Monetary Policy Committee Friday kept the repo rate unchanged at 6.50% for an eighth straight policy meeting, in a continued attempt towards bringing down inflation to 4% target.
In my view as the finance secretary during UPA II govt, the least RBI could have done was not to further depress the sentiment with doomsday prophecies.
Most global central banks acknowledge easing in inflation but note it remains above target. Recent geopolitical disruptions also pose upside risk to inflation, a view held by RBI as well.
Employment & education are some of the constraints. Plus, greater dependence on domestic sources of growth will deny India momentum that comes from accessing international markets.
While persistent inflation led to failure to achieve inflation target in 2022 for the first time since 2016 and exports slowed down, the banking sector continued to be resilient.
FM adds that AI-assisted technologies should be adopted in all districts to bring development & highlights importance of collaborative ecosystems in tech innovation.
The Standard F4 plus version will come equipped with longer-range air-to-air missiles (two) and air-to-ground munitions than currently in service with India, ThePrint has learnt.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
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