To balance a budget shortfall made worse by the rising borrowing costs that the crisis caused, Sunak will most probably have to oversee spending cuts and tax rises.
The race for a new Conservative Party PM may come down to the colour of the skin of the 2 candidates. Recent polls show Liz Truss is beating Sunak by 62% to 38%.
Sunak, son-in-law of Infosys co-founder Narayana Murthy, has been quoted in the media as saying that he feels 'great' about the result of the first round of voting.
In the capitals that will now be the unhappiest, a Kamala Harris victory was presumed, and a lot of actions and calculations were predicated upon that.
India-US trade in first 3 yrs under Biden was $122 bn, while it was $83 bn in Trump’s first term. Average trade surplus in India’s favour grew from $18 bn under Trump to $31 bn under Biden.
The Chinese aircraft has uncanny similarities to the American F-35 jet. There are claims that China copied the design. Cyber theft of F-35 design data was reported in 2009.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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