The time has come for the government to shed its obsession about fiscal deficit targets and borrow more from the market, both to compensate the states for their shortfall in GST collections and to meet its own expenditure commitments. India still has deep reserves of economic resilience and it is necessary to avoid any self-defeating talk of recession.
The levies, charges and mounting dues would essentially financially cripple and may even bankrupt the leading service providers, and have wholly-avoidable negative effects and signals much beyond the telecom sector itself. The Cabinet needs to purposefully rationalise central levies and charges on telecom operators for the greater national good.
The latest inflation numbers suggest that retail headline inflation, read the overall rise in consumer prices, has gone up beyond the 4% target set up Monetary Policy Committee (MPC). The MPC is mandated to policy-induce a narrow 4-6% range for the retail inflation rate. The CPI has risen at the fastest rate since June last year.
The 14 MLAs who quit from Congress and the three from the Janata Dal (Secular) last July, leading to the fall of the JD(S)-Congress government, may have reasons other than pure disagreement and/or disenchantment with the way their own parties were going about governing and such things. Now, it’s for the bypolls on December 5, to decide the fate of the 17.
As for manufactures, which account for over 77% weight in the industrial index, production has contracted and posted minus 3.9% growth. The sharp contraction in automobile production, with the output of motor vehicles, trailers and semi-trailers declining by minus 14.9 % y-o-y has clearly adversely affected production.
It is the duty of all concerned to not just maintain peace but also to work for sustainable unity.
For the polity, too, an Opposition staging an extinction rebellion is certainly good news. A healthy democracy needs an Opposition that is not a pushover.
While Banerjee got his PhD from Harvard, he did his Bachelor’s in economics from Presidency, Calcutta and his Master’s from JNU.
What has troubled some critics is that he is a public sympathiser of Yugoslavian and Serbian war criminal Slobodan Miloševic.
John Goodenough, Stanley Whittingham, and Akira Yoshino won the 2019 Nobel Prize for Chemistry for the development of lithium-ion batteries.
By refusing to cut rate by 35 bps or more the RBI wants to make it clear that liquidity availability is not the binding constraint on growth.
For Trump, Howdy Modi was a golden opportunity to woo a vital segment of American voters.
A lower rate, comparable with Asian peers, and sans any exemptions, will make large Indian cos more competitive.
The export sops announced are welcome. But they would take time to kick in and boost exports.
Indian Space Research Organisation will analyse the mishap to identify what went wrong and rectify the defect that caused it.
It is in the interest of the Indian economy to have large banks that can lend to large companies, given the greater segmentation of credit now.
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