'But the world would be much poorer without economics' contribution to understanding how societies function and without economists' suggestions as to how politicians might improve them. 'And economists themselves could do wonders by simply incorporating the country-specific factors in their econometric models rather than just applying them in toto," say Soumya Kanti Ghosh and Samir K Jha.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
The remarks came amid reports of mounting tension between the finance ministry and the RBI over the autonomy of monetary policy makers.
Those who worry that the Adani saga will turn the world off India are not looking at the entire picture, asserts Mihir S Sharma.
The financial sector has been deeply troubled since 2013. It is now in a full-blown crisis, warns Devangshu Datta.
Euro zone leaders will hold an emergency summit on Monday.
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
'If a Brahmin child by birth is poor then he must get reservation benefits rather than an OBC child who is rich and born in a rich family.'
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
'We need to look after each other during these difficult times.'
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
In tackling India's unemployment problem, look beyond the finance minister and focus on the education minister, points out Gurbachan Singh.
The President had been moved out of his residence on Friday, in anticipation of Saturday's protests.
The ship will now arrive on August 16 and remain at the Hambantota port till August 22, they said.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Rajan has already warned he does not have a 'magic wand' to deal with India's economic crisis.
'What my Labour government will seek with India is a relationship based on our shared values of democracy and aspiration. That will seek a free trade agreement (FTA), we share that ambition, but also a new strategic partnership for global security, climate security, economic security'
Sri Lankan Prime Minister Ranil Wickremesinghe was appointed as the country's acting president after President Gotabaya Rajapaksa fled to the Maldives on a military jet on Wednesday in the face of a public revolt against his government for mishandling the economy that has bankrupted the country.
Sri Lanka on Wednesday declared a state of emergency after President Gotabaya Rajapaksa fled to the Maldives on a military jet in the face of a public revolt against his government for mishandling the country's economy.
Macron held a tete-a-tete with Modi before the delegation-level talks at the Elysee Palace - the official residence of the French president.
Apart from the human body, human food will bear direct repercussions. From staples such as wheat, to coffee, dairy, and even the great Hilsa face the threat of reduced supply due to the extreme heat.
Shehbaz Sharif, the younger brother of former premier Nawaz Sharif, is expected to become Pakistan's new prime minister as the coalition of leading political parties led by them is set to comfortably cross the simple majority mark to form the next government after elections produced a split mandate.
Hiring activity witnessed a 6 per cent year-on-year growth in March this year, supported by a rebound in economic activities and led by sectors such as banking and telecom, according to a report. However, there was a marginal dip of 2.4 per cent in hiring activity as compared to February, owing to the appraisal season, according to the Monster Employment Index (MEI). "Two years into the pandemic, it is heartening to see that the Indian economy has overcome setbacks and challenges with hiring momentum exceeding pre-COVID levels by 6 per cent this year compared to 2020," Monster.com, a Quess company, CEO Sekhar Garisa noted.
Speaker Karu Jayasuriya questioned the president's decision to suspend parliament till November 16, saying it will have "serious and undesirable" consequences on the country.
It is for the first time in the history of IndiGo that we have undertaken such a painful measure, CEO Ronojoy Dutta said.
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
'If Ranil Wickremesinghe starts repressing and suppressing the protesters who represent the people, that will pose a danger for him to continue in office.'
Meanwhile, his successor, President Ranil Wickremesinghe tweeted: "Congratulations to the Sri Lankan cricket team on winning the Asia Cup 2022. Well played Pakistan! The second championship for today," he said, adding that it "goes to show that, with dedication and determination we can overcome challenges as a nation. Onwards and upwards Sri Lanka!"
As China faces a scenario of negative population growth, the government has started to force its citizens to marry early and have at least three children each.
'He's charismatic, a populist, very popular, and indeed a cult of personality.' 'That ensures a powerful reaction from his support base -- even if it's not sustained, it will be quite intense, and that's worrisome for stability.'
Prime Minister Narendra Modi has said that India's economic growth is a 'natural by-product' of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with 'corruption, casteism and communalism' having no place in our national life.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
The all-party meeting aimed at reconciliation and conferring full powers to Sri Lanka's provincial councils will be reconvened in a month after initial deliberations on Wednesday failed to yield any agreements, party officials said on Thursday.
The Ministry of External Affairs (MEA) has been allocated a total of Rs 18,050 crore in the Union Budget for 2023-24 which is an increase of around 4.64 per cent over last year's allocation of Rs 17,250 crore.
'There is fear that the president and prime minister are dragging their feet and won't resign.'
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