News Snapshot:
Good morning, Big Story 🔴 With days to go before the inter-minesterial consultations for 2022-23 revised estimates of Union finances, internal discussions within the Prime Minister’s Office and the Ministry of Finance seem to suggest that the cascading impact of a worse-than-anticipated global downturn may dent the budget arithmetic in the second half of the current financial year. 🔴 So far, the political leadership has been somewhat sanguine with the upsides – an uptick in GDP growth during April-June; steady tax revenues, among others. But policy makers are now pointing to multiple headwinds: pressure on the twin deficits (fiscal deficit...
