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The recent G-20 Summit in Los Cabos, Mexico, featured a pivotal change in the geopolitics of international finance. Emerging economies contributed billions to an emergency IMF (International Monetary Fund) fund designed to provide additional support to the Eurozone nations in case the debt crisis worsens.
Think tanks from five BRICS countries, participating in the 5th Academic Forum meeting in Durban, have announced the setting up of the BRICS Think Tanks Council (BTTC).
The unity and purpose of BRICS has been the target of speculation and scepticism from various quarters. With the Delhi Declaration, BRICS members have been able to assuage such doubts as they have begun to create a credible hedge against traditional global narratives of security and development.
China as the leader of the pack will use BRICS for control and dominance. The West will see this as a threat to existing arrangements and try to pull it down before it takes off. Indian presence will remain weak so long as our economic reforms and progress remain slow and our internal political and policy frameworks remain uncertain.
BRICS is an evolving process, and any exaggerated notion of it becoming a power bloc will be out of place. It might work towards "a multi-polar (or poly-centric) world", which a former Brazilian President had described as an important goal of BRICS, but in no sense it is a ganging-up against the US or the West.
India and Bangladesh relations got a new boost following Finance Minister Pranab Mukherjee's brief visit to Bangladesh recently, demonstrating New Delhi's keenness in enhancing bilateral relations.
Any suggestion of a look west policy compels a comparison with India's much-celebrated Look East policy and presents us with a paradox. India's relationship with the Gulf is much denser than with Southeast Asia. Yet the Gulf does not resonate as much as Southeast Asia in Indian Foreign Policy discourse.
Whatever shape future talks between India and China takes, bilateral problems, including the border dispute, have taken more time than their people can wait, to address leave alone resolve them.
This brief discusses one of the most crucial challenges to effective global governance for development: bridging the financing gap for the UN Sustainable Development Goals. It considers the role of the G20 in addressing this gap, and outlines a 10-point action plan for the grouping. The aim is to bolster the financing required to achieve the SDGs in the next six and a half years—serving as an update to the Addis Ababa Action Agenda of 2015 in l
The 2nd session of the 11th National People's Congress (NPC) was held in Beijing from Mar 5-13, 2009, the first session after the onset of the global economic crisis
Climate change defined officially as 'a change in the state of the climate that can be identified among other things by changes in the mean and / or the variability of its properties, and that persists for an extended period, typically decades or longer' is among major challenges facing countries.
Sustainable magic requires that the magician remain credible.
The NBSA process needs to keep pace with the fists of fury that politicians are unleashing on each other. Particularly so as the level of unsubtantiated allegations is getting worse as we're getting closer to the General Elections 2014.
Mayawati has apparently decided that she should retain her core constituency hoping that everything else would fall in place
Spillovers from unconventional monetary policy in the AEs pose a systemic risk for emerging market economies (EMEs). Unconventional monetary policies to ensure cheap liquidity and easy credit conditions have been used not only in the US but in Europe as well as Japan.
Budget 2004, despite the change of regime in New Delhi, maintains the much required continuity for critical power sector reforms to achieve the country¿'s "Power for All" objective by 2012 and double installed capacity to over 200,000 MW .The salient features in the budget vis-a-vis the power sector are:
The macro-economic situation at this point of time is indisputably negative and the Budget for 2013-14 should set realistic spending allocations with the aim to reduce the fiscal deficit to sustainable levels.
The focus on delivery of various schemes is missing in this budget. Each year, public money is being poured into them, but things remain the same unless there are dynamic state ministers monitoring everything. Some provision for effective monitoring should have made in budget 2013-14.
G20 India aims to provide a global approach to realising common aspirations like a just green transition, renewed forms of multilateralism, digital
With G20 ruling 2023, New Delhi is bound to utilise its development cooperation allocations for forging new alliances and establishing sustainable par
The Finance Minister announced allocations for various sectors in the Budget. But these are a regular feature of every Budget. What was different in this Budget? Almost nothing except that there has been fiscal consolidation. Obviously, it is not going to satisfy the common man, farmers, industry or foreign investors.
The Modi Government's first real annual Budget is perhaps its most important test after flunking the Delhi Assembly examination. While businessmen will be watching it to gauge the intentions and determination of the Government to create a pro-business atmosphere, it will be equally eagerly watched by the armed forces community for its modernisation targets.
Though the Budget has increased financial incentives to the RE industry, it does not reflect an unambiguous focus on the energy transition of the coun
The Finance Minister has chosen to walk the conservative path, hoping to stimulate investment and growth through small half-measures. Expect high rates of inflation in FY 13 and greater pressure on the fiscal deficit despite white paper on black money.
This was a budget without many surprises. Maybe we have evolved to being an economy, in which the budget is a mundane, technical exercise, of interest to economists and accountants, but of little immediate consequence for those who live in the real world.
While the coverage of Budgets in the media and research reports are mainly limited to high interest items like income-tax, sales tax, excise, inflation etc., the "Part A" of the budget, which is an indicator of government intention and priority, remains relatively under explored.
The accompanying politico-administrative changes apart, Elections-2004 has caused the mid-course review of the economic reforms, seeking to introduce the missing "human face", about which Prime Minister Manmohan Singh had begun talking about while in the Opposition.
Visiting Pakistani journalists informed a select gathering at Observer Research Foundation that the ongoing turmoil in their country was the result of a transition from military dictatorship to coalition politics in the democratic setup.
Most participants at an ORF conference on urban development and creation of 100 smart cities in India felt that creation of smart cities is an extremely challenging exercise and for this, careful planning and effective project implementation are required.
After years of conceiving the idea of Strategic Oil Reserve, the Indian government seems to be moving in the right direction in a resolute manner. Recent statements by both the Prime Minister and the Petroleum Minister about building strategic storage facilities to gear up the country to meet oil emergencies
New Delhi must take full advantage of the geopolitical opportunity that the Japanese connection offers us. As democracies, both India and Japan are open societies and committed to a liberal world order. Through visits and agreements, the two sides have now laid the infrastructure for their strategic partnership.
In terms of the existing institutional mechanisms, South Korea somewhat lags behind Japan, but one should remember that India-South Korea partnership is only about 40 years old and during this rather short period, what the two countries have achieved is quite remarkable.
The ORF-hosted BRICS Academic Forum's recommendations to the 4th BRICS Leaders Summit, to be held in New Delhi on March 29, seek to set the agendas for global governance reforms and sustainable development and map out a new geography of cooperation.
A major problem in developing connectivity projects has been the lack of higher direction. By virtue of being strategic, these tasks ought to be done in special quick time. But, more often than not, they end up mired in all kinds of problems. At the best of times inter-ministerial and centre-state coordination is poor.
Climate change, conflicts, and various crises have exposed the vulnerabilities of global food systems. Acute food insecurity and undernourishment have become more prevalent in recent times, and the imperative is to build more robust and sustainable food systems that do not adversely impact the environment. The COVID-19 pandemic has only underlined the importance of food security in times of crises. This brief explores the promise of clima
Recent global events have underscored the importance of economic integration even as they have exposed the fragility of global value chains (GVCs). The outbreak of the COVID-19 pandemic, for instance, highlighted the systemic risks to the functioning of GVCs. This brief explores the factors that impact the creation of production networks and recommends key methods to make GVCs more stable and sustainable to withstand potential shocks.
With interests of Australia and India "converging" in the evolving geostrategic environment of Asia, both countries have the capacity to develop into a "real" strategic partnership, according to the Australian High Commissioner, Mr Peter Varghese.
India’s power sector requires sustained efforts to achieve the power generating capacity target of approximately 1.2 terawatts by 2047. It needs such capacity to meet the demands of economic growth and achieve the Sustainable Development Goal 7 of providing universal electricity access. At the same time, the country also needs to reduce its greenhouse gas emissions to meet commitments to global climate action agreements. This paper revi
Improving the fiscal state of cities will need a holistic push from all tiers of the government.
Eventually, it has to be a mutual settlement with full understanding between the two parties. They need to come to a compromise, in the highest traditions of the country. There is ample land available land at the site which could accommodate both the construction of a new temple as well as a new masjid.
