Category Center for the Study for Finance and Economics

US Hit the Debt Ceiling: Rising Alarm to Budget Deficit

The US hit the debt ceiling of $31.4 trillion on January 19 and as early as June 1, the US government may run out of money to pay its bills if Congress does not raise or suspend the debt ceiling. US treasury secretary Janet Yellen reaffirmed that defaulting on the US debt obligation would be a “catastrophe” and would put into question Washington’s “global economic leadership”. The debt ceiling refers to the maximum amount of money the government can borrow to meet its financial obligations.

The Withdrawal of Rupees 2000 Notes: A New Mini-Demonetisation in India Soon

In a sudden though not unexpected move, currency notes of the denomination Rs 2,000 are being withdrawn from circulation. This is announced via a notification released by the Reserve Bank of India and not the government (as at the time of demonetisation). These notes are not being withdrawn from circulation, but actually, they will stop circulating right away given that they will have to be deposited in a bank or exchanged for lower denomination notes.

Speed Up India: On Platforms and in Government

Ten years ago, when then-prime ministerial candidate Narendra Modi promised India bullet trains, he probably did not bargain for the system's resistance to high speed. The journey from an average speed of 60 kmph to a bullet speed of over 300 kmph would take longer than expected. It required an entirely new state-of-the-art infrastructure and a new mindset. However, that did not dissuade the pragmatic Modi as PM Modi from bringing greater speed to the railways by introducing the Vande Bharat trains that run at 120 kmph.

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