So far, India’s slowing growth was largely Made in India, the result of serial mis-steps by the prime minister. Now any green shoots that finance minister Nirmala Sitharaman was hoping to see are likely to wilt under the Coronavirus epidemic from China. On Monday, global rating agency Moody’s said India’s economy is likely to expand at a lower pace of 5.4 per cent in calendar 2020 than the earlier estimate of 6.6 per cent as a result of the disruptions to global trade networks caused by the virus.
As Akash Prakash points out in his column here, the health risks of the coronavirus outbreak will become clear next week but its impact on the global economy is already evident and it is considerable. In other opinion, writers examine the weaknesses of liberal democracy, the guidelines for audit firms and the Supreme Court’s landmark judgement on women in the military. Kanika Datta sums up the views:
Why is liberal democracy so fragile? Why do demagogues and majoritarian rule flourish even in traditional bastions of democracy? Pranab Bardhan assesses the Achilles’ heel of liberal democracy. Read it here
The top edit says the ministry of corporate affairs’ discussion paper on enhancing the independence and accountability of auditors addresses conflict of interest issues but questions whether changing regulation alone will inspire trust. Read it here
The Supreme Court’s decision on allowing women a permanent commission in the military was long overdue and overturns long-held patriarchal views, says the second edit here