Inflation has been rising steeply, as it peaked at 5% in June, especially in the backdrop of a weak rupee and higher oil prices, India’s primary import commodity.
According to Ravi Venkatesan, greater powers over management and decision making will enable banks to tap capital markets and strengthen their balance sheets.
The reserves, however, are sufficient enough to cover for the next nine months of import requirements, and policy makers are not worrying too much as of now.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
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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