Arvind Panagariya believes India’s job challenge lies in reallocating capital to labor-intensive sectors rather than creating jobs. He emphasizes that too much capital is tied up in industries like machinery and pharmaceuticals that don’t hire many workers. Panagariya suggests redirecting capital to sectors that generate more jobs per investment, stressing the upcoming budget as a critical policy statement.
Dollar slides on easing trade tensions, Fed expectations
The dollar weakened due to Trump’s potential shift in tariff talks and expectations of Federal Reserve rate cuts. The euro reached a seven-week high. Sterling
June 12, 2025