Must Read News Articles I 8th January 2020

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Amidst a tragedy, an opportunity

The article highlights that the raging bushfires give India and Australia a chance to deepen their dialogue, including on energy

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India must create 70 million jobs to achieve $5 trillion economy by 2024

Tharman Shanmugaratnam, Senior Minister of Singapore, and a renowned economist and a political personality, said on Tuesday that India needs to significantly increase employment and productivity levels to achieve $5 trillion economy by 2024.

Govt. may cut spending to curb deficit

India’s government is likely to cut spending for the current fiscal year by as much as ₹2 lakh crore as it faces one of the biggest tax shortfalls in recent years.

Lack of demand and weak corporate earnings growth in the economy led to lagging tax collections which has resulted in a revenue shortfall of about ₹2.5 lakh crore.

There is a design flaw with this military post

The article argues that creating a post of Chief of Defence Staff is problematic. It also erodes civilian supremacy over the defence establishment.

Focus on fundamentals, inclusive growth and structural reforms: RBI Governor to govt

RBI Governor Shaktikanta Das has said there is a need to focus on the fundamentals and create an ecosystem that facilitates inclusive growth with structural reforms as the underlying theme.

The nominal GDP worry

The estimated growth of 7.53% in ‘nominal’ terms is the lowest since 1975-76. Also, this is the first time since 2002-03 that nominal GDP growth is projected to be in single digits. The article highlights why is this a major concern?

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