Former NITI Aayog vice-chairman Arvind Panagariya says that it is foolish to compare the economic situation of Sri Lanka with that of India. Laughs at such comparisons. However, we must learn from the experience of the Sri Lanka crisis for future macroeconomic management. After the 1991 balance of payments crisis, the country's governments narrowly managed the macro-economy.
As far as India is concerned, the fiscal deficit has not been allowed to get out of hand. Foreign loans have not been taken to bridge the fiscal deficit. At the same time, Sri Lanka is facing a serious economic crisis. India is actively helping the neighboring country.
Many measures have been taken
Panagariya said on inflation, steps have been taken in monetary policy to check it. To keep the current account deficit under control, the exchange rates have been allowed to come down. Capital flows have also been deliberately opened up.
unemployment is not a problem
He said India's problem is not unemployment but low employment or low productivity employment. We should focus on creating jobs in which people get a good income. The unemployment rate in India in the year of the pandemic, i.e. 2020-21, was only 4.2%, which was less than 6.1% in 2017-18.
On the issue of questioning the official economic data, Panagariya, a professor of economics at Columbia University, said that the country's GDP, labor force survey, and other data collections look better than international comparison. Some criticisms of ill-intentioned people should be ignored. However, some of the criticisms are true. These need to be resolved.
Delhi Chief Minister Arvind Kejriwal, arrested in the Delhi Excise Scam case, had filed a petitio
India-Qatar: India-Qatar signed economic agreements, and will work together in these areas
The Finance Ministry said on Tuesday that India and Qatar have signed an agreement to promote and
Google Bard: Google launches AI chatbot Bard in India, which will compete with ChatGPT
Tech giant Google has launched its AI tool Bard in India. Google Bard has been brought into compe
TANCET 2023 Result Out: Tamil Nadu Common Entrance Test result released, download like this
TANCET 2023 Result Out: Anna University, Chennai has released the Tamil Nadu Common Entrance Test
All Eyes on Rafah Amidst the Israel-Hamas war, the eyes of the world are fixed on Rafah. Thousand
Liverpool were destined to win after five matches in the English Premier League. They defeated Le
The spy comedy film Mrs. Undercover is Anushree Mehta's directorial debut. The story begins with
Deepika Padukone has courted controversy for wearing a bikini in the song Besharam Rang from the
The problems of Himachal Pradesh are not taking the name of lessening. The Meteorological Departm
After the Pahalgam terror attack, India attacked Pakistan, after which the Pak Army is continuous
