The US economy will once again demonstrate its resilience and flexibility and grow around three per cent despite extremely fractious domestic politics over fiscal and other policies.
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
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The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
'The Opposition thinks since the ruling party is following Savarkar's Hindutva philosophy, they want to regain their lost political mileage (by attacking Savarkar).' 'By doing so, they think they will get their power back.'
This Budget plans for an increase to 10.3% of GDP from 9.9%.
The estimates of national income and growth do not pass the 'smell test'.
The greatest progress on civil rights in the United States since Abraham Lincoln was under the Southern Democrat Lyndon Johnson, the past master of wheeling and dealing in Congress.
'Let Modi not be in the news, I will stop making cartoons on him.'
'The wonderful thing about being a journalist is that when someone tries to muzzle your work, it's a badge of honour.' 'You know you've done something right,' Priyanka Pathak-Narain, the author of Godman To Tycoon: The Untold Story Of Baba Ramdev, tells Sunil Sethi.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
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