India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
A double-digit headline GDP growth or being crowned the world’s fastest-growing economy means very little, unless it also yields robust income growth for families.
The Centre must reduce fuel taxes, increase subsidies, and desist from raising indirect taxes. The only way to fund the extra expense will be to find additional revenue streams
It is time for political leaders to clamour for an overhaul of India’s economic performance measurement framework
Is India a friend or a foe for the US? Is being antagonistic to China and Russia necessary? Compulsions of an interdependent world are making ‘foes’ into friends.
