One aspect that never received adequate recognition in the context of what holds India together is the strength of Indian “cooperative federalism” and the role of Intergovernmental Fiscal Transfers recommended by successive Finance Commissions.
Under the theme ‘Creating a Shared Future in a Fractured World’, 2,500 leaders from businesses, governments, civil society, arts, academia and media assembled in Davos last week to push a collective agenda towards ‘inclusive’ economic growth in a world of strained social contracts.
The recapitalisation aims to stem the burgeoning stressed assets and spur genuine long-term infrastructure lending for upcoming or stalled mega-infrastructure projects.
The UN Security Council has introduced a WPS (women, peace and security) agenda to explore the potential of women in peace-building and also to protect women and girls in conflict.
Despite the dissent of the US, 19 members of the G20 summit underscored their commitment to Paris Climate Agreement in Hamburg last week.
This has not been able to take economies out of deflationary pressure
Persistence of high food inflation can harden the monetary policy stance and make fiscal choices difficult
It would entail fiscal austerity measures with cuts on good public spending and a call on deficits.