A piece of my mind: Budget should target 4% fiscal deficit, trade pacts

In India, after unprecedented 6% drop in real GDP in 2020-21 because of Covid and lockdowns, there was a remarkably strong recovery in the next three years with GDP growth averaging a little over 8%

A new year has begun and the central government Budget is only a couple of weeks away. The Budget for 2025-26 is being framed in an exceptionally uncertain international environment. Donald Trump will soon be sworn in as President of the world’s single super power accounting for more than 25 per cent of global GDP. He has already threatened a serious ratcheting up of tariffs and other forms of protectionism against not just China but also friendly nations such as Canada, Mexico and India. US foreign economic policies are likely to further downgrade the role of multilateral institutions such as