The Indian budget every year has always been an eagerly awaited event. For many decades, the best minds in economics, finance, tax, business and industry throng the media house to analyze the provisions shared by the Financial Minister.
Sometimes major events completely disconnected may be data points for the plans of the different powers around the world. The challenge is to discern what purpose they serve? More critically, what are we moving towards?
When the US Ambassador threatened India's "Strategic Autonomy" policy over India's friendship with Russia - much more than meets the eye was at stake. Let us unpack how the Ukraine war has fundamentally changed the US and the world. And why are we here anyway?
Pakistan’s economy is in a tail-spin. We have discussed the impending doom for the Pakistani economy since 2018. Only its shenanigans and the ability to sell any snake oil to other countries has managed to keep it from fully collapsing. Things are about to get worse.
While, there is no money, and no food for the hungry and poor, the money to even repay the debts is running out completely. The deficit is projected to grow to close to 10% of the nation’s GDP.
It said that Pakistan’s budget deficit that in pre-COVID-19 situation had been projected at 7.3 per cent of gross domestic product (GDP), may increase to 9.2 per cent. In absolute terms, the deficit will be equal to Rs 4 trillion, higher by Rs 800 billion than previous estimates, it added.Inflation is projected to remain at 11.1 per cent this year and 8 per cent next year. (Source: IMF warns Pakistan’s budget deficit may hit record high due to coronavirus crisis | Business Standard News)
What one finds intriguing is that IMF still feels that the inflation will remain at 11.1% as predicted earlier. Here is an analysis on Pakistani economy by Javed Hassan – who has worked at World Bank.
Check out some of the reactions of common people on how inflation is impacting them during Corona situation.
Even though IMF has a pretty bleak prediction for Pakistan, but in all seriousness it could be even worse.
Intellectuals in Pakistan are asking - why is Pakistani society where it is today. It did not happen in a day. The Crimes and the depravity was always present. You acquiesced to it all along.
The story of how Pakistan got its nuclear arsenal is bizarre. Powerful politicians made decisions that will one day jeopardize this planet. For, unbridled power has been handed to ideological extremists. A detailed expose.
Bilawal Bhutto, the scion of genocide backing and a corruption-ridden family, openly abused and threatened India's elected government functionaries in the UN.
Words won't work here. Action will.
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