US budget gap triples to record $3.1 trillion on virus relief

Washington: The US budget deficit more than tripled to a record $3.1 trillion in the latest fiscal year on the government’massive spending aimed at softening the blow from the coronavirus pandemic. The increase brought the deficit as a share of gross domestic product to 16% in the year ending in September, the largest since 1945, a […]

The next China India must first beat Bangladesh

Mumbai: India’s Covid-19 economic gloom turned into despair this week, on news that its per capita gross domestic product may be lower for 2020 than in neighboring Bangladesh. “Any emerging economy doing well is good news,” Kaushik Basu, a former World Bank chief economist, tweeted after the International Monetary Fund updated its World Economic Outlook. […]