South Asia may see 42 mn people being pushed into extreme poverty, according to World Bank analysis, as the pandemic leads to longer shutdowns, increase in costs.
CDC chief Robert Redfield said significant new preparedness investments are needed, in addition to basic efforts to respond to the coronavirus pandemic.
Developing countries are expected to be hit harder in the economic downturn. But PM Modi’s steady and resilient leadership will surely guide India to calmer waters.
As millions of Americans contend with lost wages and savings due to the coronavirus, the challenge of making US foreign policy work harder for the middle class is even more vital.
Shi Zhengli, a virologist renowned for her work on coronavirus in bats, emphasized on the need for studying viruses among wild animals in advance to prevent another pandemic.
Alongside buying into the grift that is dating apps, the girlies are also installing astrology apps like Astrotalk to investigate the same tired mystery—will he ever text back?
WhatsApp privacy policy case is among a string of matters involving practices like restrictive platform rules, pricing & billing policies, reflecting India’s tight scrutiny of market dominance.
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.
Well, the Ram Mandir needs to be constructed, the bullet trains need to run, Lutyens Delhi needs to be torn down and the costly Central Vista needs to be built there, the PM needs alarger and more palatial house and he also needs 2 – not hust 1- expensive, highly customised being Boeing 757 aircraft to ferry him around the globe, money needs to be allocated to gomutra research and NaMo waves, concentration camps for termites have to be built and then, when all these have been completed, the plight of the poor may be taken up by the Modi government !
The decline began with Demo and what accelerated the nosedive was botched up GST. Lockdown is just driving the last nail in the coffin. If economy is to register a V-shaped recovery, job generation on massive scale is absolutely necessary. This will empower people and will create demand. If demand is created, production will go up and economy will expand. Tax collection will concomitantly pick up substantially. Public spending is absolutely essential and a lot of developmental projects must be launched. This will create national wealth apart from enhancing the livelihood of the common man. If necessary, for a limited period and for a limited purpose, Govt must resort to printing of notes – only for capital expenditure and not for revenue expenditure. a k pattabiraman, chennai
Mr A.K.Pattabhiraman: I agree with much of what you write.
As you rightly point out, the decline started with an unwanted, idiotic measure called demonetisation, followed up by another self-goal called GST. The relatively healthy economy that Dr Manmohan Singh bequeathed to PM Modi was not only driven to the ground by the latter, he also ensured that qualified economists like Dr Raghuram Rajan, Arvind Subramanian, Urjit Patel, Amartya Sen who could have formulated sound policies were replaced by pliant Hindutva apparatchiks and know-nothings. Worse still, at a time when oil prices were low and the Chinese juggernaut was wobbling, India could not strike the iron while it was hot due to these self-inflicted wounds. Clearly, there are limitations to Hindutva and chaiwala economics.
I do see some issues with the Keynesian approach you outline in your comment:
1. The influx of capital that India needs has slowed down to a trickle.
2. FDI is down as foreign investors are wary of the regulatory chaos in India, the political risk due to riots, crazy Hindutva ideologies, atmanirbhar and other zany ideas.
3. Remittances form foreign workers is down and
4. Capital flight is rampant – most Gujaratis are moving their funds out of the country.
Yes, public spending is essential and money must be put into the pockets of the poor so as to increase deamnd for goods and services. But as we see, the PM is doing the very opposite. Crazy vanity projects such as the Central Vista, statue of Patel, bullet trains, Ram Mandir and so on are being prioritised.
But not entirely surprising – after all, there are no economists in the room now are there?
Well, the Ram Mandir needs to be constructed, the bullet trains need to run, Lutyens Delhi needs to be torn down and the costly Central Vista needs to be built there, the PM needs alarger and more palatial house and he also needs 2 – not hust 1- expensive, highly customised being Boeing 757 aircraft to ferry him around the globe, money needs to be allocated to gomutra research and NaMo waves, concentration camps for termites have to be built and then, when all these have been completed, the plight of the poor may be taken up by the Modi government !
The decline began with Demo and what accelerated the nosedive was botched up GST. Lockdown is just driving the last nail in the coffin. If economy is to register a V-shaped recovery, job generation on massive scale is absolutely necessary. This will empower people and will create demand. If demand is created, production will go up and economy will expand. Tax collection will concomitantly pick up substantially. Public spending is absolutely essential and a lot of developmental projects must be launched. This will create national wealth apart from enhancing the livelihood of the common man. If necessary, for a limited period and for a limited purpose, Govt must resort to printing of notes – only for capital expenditure and not for revenue expenditure. a k pattabiraman, chennai
Mr A.K.Pattabhiraman: I agree with much of what you write.
As you rightly point out, the decline started with an unwanted, idiotic measure called demonetisation, followed up by another self-goal called GST. The relatively healthy economy that Dr Manmohan Singh bequeathed to PM Modi was not only driven to the ground by the latter, he also ensured that qualified economists like Dr Raghuram Rajan, Arvind Subramanian, Urjit Patel, Amartya Sen who could have formulated sound policies were replaced by pliant Hindutva apparatchiks and know-nothings. Worse still, at a time when oil prices were low and the Chinese juggernaut was wobbling, India could not strike the iron while it was hot due to these self-inflicted wounds. Clearly, there are limitations to Hindutva and chaiwala economics.
I do see some issues with the Keynesian approach you outline in your comment:
1. The influx of capital that India needs has slowed down to a trickle.
2. FDI is down as foreign investors are wary of the regulatory chaos in India, the political risk due to riots, crazy Hindutva ideologies, atmanirbhar and other zany ideas.
3. Remittances form foreign workers is down and
4. Capital flight is rampant – most Gujaratis are moving their funds out of the country.
Yes, public spending is essential and money must be put into the pockets of the poor so as to increase deamnd for goods and services. But as we see, the PM is doing the very opposite. Crazy vanity projects such as the Central Vista, statue of Patel, bullet trains, Ram Mandir and so on are being prioritised.
But not entirely surprising – after all, there are no economists in the room now are there?