'It was the hostility of the Yunus regime that made India careful and wary of dealing with them.' 'They gradually backed off and lowered the noise, but the damage was done.' 'Their true colours had been exposed.'
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
In July, the Pakistan government's debt swelled to USD 2.44 billion, including USD 2.07 billion in non-guaranteed debt owed to China, as per Geo News.
Sticking to fiscal targets in the middle of a global slowdown could be dangerous.
Menon said the current global economic crisis figured prominently during his meetings with officials of the Obama administration and congressional leaders in his trip to Washington.
Prime Minister Dr Manmohan Singh spoke to mediapersons about a number of crucial issues after the G-20 Summit in Pittsburgh. Here is the transcript:
The Bhartiya Janata Party (BJP) pulled up the government for a total policy failure, resulting in grave economic crisis.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
Sri Lankan President Anura Kumara Disanayaka assured Prime Minister Narendra Modi that his country's soil will not be used against India's interests, addressing concerns over China's growing influence in Colombo. The two leaders discussed a range of issues, including a defense cooperation agreement, energy ties, and debt restructuring. They also agreed to initiate a ferry service between Rameshwaram and Talaimannar, and to adopt a "humanitarian approach" to the fishermen issue.
Pakistan plans to procure 40 jets of advanced Chinese stealth fighter J-35, which, if materialised, will mark the first export of China's latest jet. The sale would mark Beijing's first export of fifth-generation jets to a foreign ally and is expected to recalibrate regional dynamics, particularly in relation to Pakistan's rival India. The acquisition of new aircraft was pursued despite the serious economic crisis faced by Pakistan. China has helped Pakistan to jointly develop and operate the J-17 Thunder fighter jet, the mainstay of the PAF. China has delivered four advanced naval frigates to the Pakistan Navy in the last few years to enable it to play a bigger role along with its navy in the Indian Ocean and Arabian Sea.
Indian IT companies, which participated in the CeBIT 2009 in Hannover, expressed confidence that innovative skills of the software engineers and IT professionals along with their ability to adapt to the rapidly changing situation in the markets around the world will help cushion the impact of the global economic meltdown on the industry in India.
Glimpses from Sri Lanka's presidential election, the first polls since the island's economic crisis, in Colombo and Jaffna, September 21, 2024.
Prime Minister Manmohan Singh on Thursday partly blamed International Monetary Fund for the current global economic crisis.
Though affected by the current global economic meltdown, India has fared much better than other countries of the world, Minister of State for External Affairs Preneet Kaur said on Friday.
The other dominant fear among the people is the irrational behaviour of people, once the lockdown is lifted.
'Mrs Gandhi had nothing to do in the day-to-day working of Dr Singh's government.' 'People say Mrs Gandhi's office used to give orders, which is nonsense.'
Madrid's Olympic bid team said on Wednesday that Spain's debilitating economic crisis is ending and the country will have no problem covering investments and rallying support at home to host the 2020 games.
With the financial meltdown eating into global economic growth, including India's own, External Affairs Minister Pranab Mukherjee, who also holds the finance portfolio, warned that ignoring rural economy could prove to be disastrous. "Global financial institutions need to put more resources for developing countries in rural economy, build social infrastructure... The government will take further steps to ensure labour-intensive sectors are less adversely affected," he said.
The US and Europe are at the forefront of trying to resolve the global economic crisis and are making progress towards prosperity again, US Secretary of State Hillary Clinton has said.
Anura Kumara Dissanayake, the leader of the Marxist Janatha Vimukthi Peramuna's (JVP) broader front National People's Power (NPP), on Sunday consolidated his lead in the Sri Lanka's presidential election.
"Yes, if the crisis deepens further and there is greater volatility in financial flows, there is an increased risk of this (currency war) happening," Mukherjee said in response to a question.
India has the capacity and the resilience to overcome economic crisis, Finance Minister Pranab Mukherjee said on Tuesday in the Rajya Sabha.
The American economy is resilient and durable enough to withstand the challenge posed by the ongoing economic crisis in China, the White House said while asking Beijing to move towards a transparent economy and a market-based currency system.
Gold medallist Arshaf Nadeem brings Pakistan's first medal home to hero's welcome
Predicting a gloomy economic future, a top United Nations trade and development agency today said the governments still have a long way to go to tide over the financial crisis.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
For India to view the new Sri Lankan leadership only through the prism of the past or through their narrow view on China, is fraught with possibilities that should be avoided, asserts N Sathiya Moorthy.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
Pakistan may want to undertake a 'false flag' operation in J&K to divert attention from the situation in Balochistan and Khyber Pakhtunkhwa but infiltrating one SSG battalion into J&K and having two SSG battalions waiting to follow suit means war, which Pakistan cannot afford in its current economic crisis, notes Lieutenant General Prakash Katoch (retd).
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
MotoGP's Indian Grand Prix has been cancelled due to operational considerations, series organisers said on Wednesday.
India should encourage the second coming of SAARC with climate change as an urgent agenda and keeping Indian security concerns in mind as the subtext, suggest Lieutenant General Ashok Joshi (retd) and Colonel Anil Athale (retd).
It seems in the geopolitics of the 21st century, we can see the subcontinent acting as one geopolitical entity to secure its economic interests. Key to this transformation is a strong India that is pre-eminent but not dominant, notes Colonel Anil A Athale (retd).
A customer wanting to buy a car would have to wait a long time for delivery.
Pakistani-American businessman Sajid Tarar said like India, Pakistan also needs strong leadership to handle political instability and economic issues.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Two days ago, External Affairs Minister S Jaishankar asserted that Pakistan-occupied Kashmir was, is and will always be part of India.
Embattled US President Joe Biden on Sunday announced that he will end his candidacy for re-election in 2024 and endorsed Vice President Kamala Harris as the Democratic Party's new nominee, saying "it is in the best interest of my party and the country".
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