Partha Chakraborty Op-Ed: We are not AAA OK

Partha Chakraborty writes: The Fitch ratings? We did see this coming, I will argue. In these pages we lampooned supply chain debacles that started inflationary pressures, railed against rising deficit and government profligacy predicting they could force a fall from grace for the US dollar, advocated in favor of using debt-ceiling drama as a lever to bring wayward spending down; last week we discussed how the high-minded — and well intentioned — efforts at crafting a US “industrial policy” might not mean that much. Every single driver Fitch mentioned was flagged as a concern, if not a three-alarm-bell issue.

India’s growth to hold at 5.8%, keeping top spot: UN

The UN said on Tuesday that “with many positives”, India’s economic growth this year is expected to hold at 5.8%, affirming a series of international organisations’ projections that the country will be the fastest-growing major economy. The Midyear Update to the UN’s World Economic Situation and Prospects report projected next year’s gross domestic Product (GDP) to hold at 6.7%”supported by resilient domestic demand”.

IMF says Indian economy remains a ‘bright spot’

The Indian economy has retained the crown of “a bright spot” in the International Monetary Fund’s (IMF) latest World Economic Outlook report released on Monday and it is slated to account for half of the global growth in 2023, compared to just a tenth coming from the combined might of the US, the world’s largest economy, and Europe, which comprises some of the largest economies.