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looking beyond borders

foreign policy and global economy

Archive for the tag “budget”

Financial Woes Rattle The United Nations

UN headquarters in New York is not the only global entity experiencing a cash crunch. Those focusing on humanitarian aid delivery in conflict zones, providing care to refugees, and preventing starvation and disease to families displaced from their homes are all operating in an unforgiving environment. Wealthy donors in the European Union, North America, Asia and the Persian Gulf are simply tapped out, while others view financial contributions to UN emergency programs as ripe for abuse or mismanagement.

Read Here – The National Interest

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Don’t Ignore External Affairs

Without a substantial increase in diplomatic capacity, expanding India’s engagements is nearly impossible. The MEA needs higher budgetary allotments, specifically for investing in capacity building in two areas. One, for increasing the number of Missions and Post abroad by enlarging the size of India’s diplomatic corps. Two, for investing in creating specialists who can present India’s case on global issues such as nuclear no-first use, climate change, data protection etc.  After all, an investment in diplomacy has the potential to deliver disproportionate benefits for the Indian national interest.

Read Here – Pragati

India’s Got A Reputation Problem

India's Finance Minister and Arun Jaitley speaking at the launch of the India Post Payments Bank branches in New Delhi on January 30, 2017. Photo: PIB

India’s Finance Minister Arun Jaitley speaking in New Delhi on January 30, 2017. Photo: PIB

One of the least enviable jobs in the world at the moment has to be that of Indian finance minister. Arun Jaitley will present his fourth annual budget to India’s Parliament on Wednesday amid terrible headwinds — mostly caused by his government’s bewildering and disruptive decision to invalidate 86 percent of India’s currency last November.

Read Here – Bloomberg

Why Mr Modi Shouldn’t Puzzle Indians

Mr Modi’s government has proceeded in a manner exactly predictable from his claims and promises on the campaign trail. He will not change the bedrock of economic policy since 2004 — the reliance on private-public partnerships, for example. He will instead work towards quicker execution, lower taxes, and a less intrusive state.

Read Here – Business Standard

There’s No Place Like India: Foreign Policy

India does not reconcile contradictions so much as inhabit them. Is there one god? Three? Gods? Without number? Yes, yes, and yes. Visitors are instructed to leave their Cartesian logic at passport control. This is contrary to my all-too-binary nature. But after two weeks in Delhi talking to people about the wrinkled, lumbering, battle-scarred pachyderm that is the Congress Party, I have begun to accept that it may be precisely Congress’s capacity to live blithely with contradiction that accounts for its astonishing persistence (that, and the Gandhi family name).

India Seen Curbing Widest BRIC Budget Gap to Boost Rate-Cut Room: Bloomberg

India’s government may curb spending growth in the budget tomorrow to pare the widest fiscal deficit in major emerging nations, seeking to boost the central bank’s scope to reduce interest rates as the economy falters. Finance Minister Palaniappan Chidambaram will keep deficit goals set in October of 4.8 percent of gross domestic product for the year through March 2014 and 5.3 percent in 2012-2013, Goldman Sachs Group Inc. and Credit Suisse Group AG said.

Getting down to brass tacks

IN THE negotiations to reduce America’s long-term deficit and to avoid the “fiscal cliff” of automatic tax increases and spending cuts at the year’s end, Republicans have so far done most of the retreating. But they still want something in return. Emerging from the first—and so far only— negotiating session with Barack Obama on November 16th, Mitch McConnell, the leader of the Republican minority in the Senate, said he was “prepared to put revenue on the table, provided we fix the real problem.” By that he meant entitlements, in particular the big three: Social Security, Medicare and Medicaid—pensions, and health care for the elderly and poor, respectively. On November 20th John Boehner, the Republican speaker of the House, demanded that Mr Obama’s health-care plan should also be on the table.

Read Here – The Economist

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