Indias states fiscal deficit has widened to 3.3 percent of GDP in fiscal year 2025. This increase stems from states borrowing more under a central government scheme for capital investment. Capital expenditure remains a focus, budgeted at 3.2 percent of GDP in fiscal year 2026.
Paul Black’s 3 thumb rules for identifying great wealth creators
Veteran portfolio manager Paul Black’s investment framework focuses on identifying businesses with competitive advantages that strengthen over time. His three key rules emphasise widening moats,