IMF Managing Director Kristalina Georgieva said Sunday that US, Europe and China are all slowing down simultaneously, making 2023 tougher than 2022 for the global economy.
Like many, India will be anxiously watching the US-Saudi Arabia summit in Jeddah—knowing its fate is tied to the decisions King Salman and Joe Biden make.
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.
The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.
Two days after polling ended, fuel retailers who were widely expected to raise prices have kept them unchanged. Even surge in global crude prices hasn’t made an impact yet.
FM adds that AI-assisted technologies should be adopted in all districts to bring development & highlights importance of collaborative ecosystems in tech innovation.
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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