Governor Punjab questions Punjab CM Bhagwant Mann’s fiscal wisdom & governance
Governor Purohit has stated that borrowings should ideally be used to create capital assets rather than to implement populist policies
Governor Purohit has stated that borrowings should ideally be used to create capital assets rather than to implement populist policies
The International Monetary Fund report titled ‘World Economic Outlook 2022: Countering the Cost-of-Living Crisis,’ released in October 2022, warns all countries, including India, of an impending economic downturn.
Fitch's latest economic outlook projected growth at 11 per cent in FY22 then at around 6.5 per cent a year through to FY26. This pace of expansion reflects base effects and the closing of output gaps after the pandemic shock.
'Any further relief, besides waiving of compound interest for loans up to Rs 2 crore, is detrimental to the national economy and banking sector,' it said.
As per the report, large procurement by the government may have resulted in 35-40 bps upward impact on inflation.
