The word stagflation is in vogue again as economies confront simultaneous prospect of low growth & high inflation. A misery index defines what people experience under this phenomenon.
Despite elevated inflation, many indicators suggest growth has remained resilient. The PMI points to sustained recovery in manufacturing sector, and GDP collections are still robust.
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.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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