New Delhi (AFP) - Prime Minister Narendra Modi's right-wing government will unveil its first full budget on Saturday, a day after announcing the time was ripe for long-awaited reforms to kickstart the economy.
It’s hard to be optimistic about India right now. Asia’s third-largest economy is growing at the slowest pace in a decade, the trade gap is widening, the rupee is plunging and the government’s cost of borrowing is soaring as confidence evaporates and investors flee.
High inflation, federal budget deficits, a record trade imbalance and sluggish growth have plagued the Indian economy over the last year, but a recovery may soon be in the offing.
In a view that stands apart from the gloomy headlines and skepticism about India’s economic prospects, Credit Suisse Head of Southeast Asia and India Economics Robert Prior-Wandesforde said last week that the economy’s downward trajectory may have finally hit bottom.
The global economy continue to be fragile and chaotic. At the same time companies continue to make large, and often increasing, profit. Here are some good blog posts on investing, personal finance and the economy.
On the face of it, the title of this article will seem absurd to many. While China's economic growth has slowed, it's still running at a brisk 7.4% annual rate. Moreover, the Chinese government seems to be successfully slowing credit in order to rein in a burgeoning debt issue.