-NDTV.com Three elderly people have died waiting in queues to secure fuel since Saturday, police have said. New Delhi: As Sri Lanka faces its worst-ever economic crisis, with electricity blackouts and shortage of essential goods leading to massive protests, its nationals have started seeking refuge in India. Here's your 10-point cheatsheet to this big story: * The Indian Coast Guard on Tuesday apprehended six Sri Lankan nationals including three children, all residents of Jaffna...
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Russia’s war in Ukraine is crushing Sri Lanka’s $81 billion economy -Anusha Ondaatjie
-ThePrint.in Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka is racing to avert a default amid dwindling forex holdings. Colombo: Russia’s war in Ukraine, which has caused a humanitarian crisis and convulsed global financial markets, is now threatening to crush an $81 billion economy more than 4,000 miles away in the Indian Ocean. Hit by soaring oil import costs and a dip in tourism revenue, Sri Lanka...
More »Sanctions within a Regime of Neo-liberalism -Prabhat Patnaik
-NetworkIdeas.org Before joining the neo-liberal order, India used to have “rupee payment arrangements” with the Soviet Union and Eastern European socialist countries under which the main international reserve Currency, the US dollar, was used neither for settling transactions nor even as the unit of account in terms of which the trade-related transactions were denominated. The dollar in short was used neither as the means of circulation, nor even as the unit...
More »India’s economy and the challenge of informality -R Nagaraj and Radhicka Kapoor
-The Hindu Policy efforts to formalise the economy will have limited results as the bulk of informal units are petty producers Since 2016, the Government has made several efforts to formalise the economy. Currency demonetisation, introduction of the Goods and Services Tax (GST), digitalisation of financial transactions and enrolment of informal sector workers on numerous government Internet portals are all meant to encourage the formalisation of the economy. But why the impetus...
More »How the Rise of Global Inflation Will Play Out in Indian Politics -MK Venu
-TheWire.in Today, fuel prices are at an all-time high. Once the genie of inflation is out of the bottle, as it does once in a decade or so, no amount of narrative spinning by the Modi government will work. This year is likely to herald the return of global inflation in ways not seen in the past 20 years. We have witnessed inflation remaining rather subdued from the beginning of this century....
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