'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.Rediff.com There is simply no way to get away from the fact that the clouds over the economy continue to darken -- not just because of events already unfolding but equally because of the quality of the government response. Moody's decision to put out a warning on its India rating may be nothing more than recognising the changes in economic prospects that have already occurred, since rating agencies typically react slowly and tend to be behind the curve. What should worry forecasters (and everyone else) is the risk that the minor upswing in economic growth that most of them expect in the quarters following July-September, even if only helped by progressive changes in the base period comparator, may in fact not come about because of a downswing that feeds on itself for a variety of reasons.There is a fiscal crisis building up, which might become apparent … [Read more...] about Can India get to $5 trillion?
Video PlayerClose BEIJING, March 1 (Xinhua) -- In the early spring of 2018, more than 2,000 members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, will gather in Beijing to attend the upcoming first session of the 13th CPPCC National Committee. The year 2018 marks the first year to implement the spirit of the 19th Communist Party of China (CPC) National Congress, the 40th anniversary of the reform and opening up, and a key year for carrying out China's 13th five-year plan by 2020, when the country will realize the goal of becoming a moderately prosperous society. Convened last October, the 19th CPC National Congress outlined a blueprint for China until the middle of the century, which has embarked on a journey to fully build a modern socialist country and a moderately prosperous society. The new historic juncture brings new missions to the CPPCC, calling for better performance in political … [Read more...] about Commentary: Top political advisory body plays bigger role in political consultation
Video PlayerClose Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, makes an important speech at the third plenary session of the 19th CPC Central Committee in Beijing, capital of China. The session was held from Feb. 26 to Feb. 28, 2018. (Xinhua/Ju Peng) BEIJING, Feb. 28 (Xinhua) -- The 19th Communist Party of China (CPC) Central Committee issued a communique at the end of its three-day third plenary session, which concluded Wednesday. Xi Jinping, general secretary of the CPC Central Committee, made an important speech at the session presided over by the Political Bureau of the CPC Central Committee. The meeting was attended by 202 CPC Central Committee members and 171 alternate members of the CPC Central Committee. Deputy secretaries of the CPC Central Commission for Discipline Inspection and senior officials of relevant departments were also present at the meeting. The plenary meeting heard and discussed a work report delivered by Xi, who was … [Read more...] about China Focus: 19th CPC Central Committee 3rd plenum issues communique