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.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The Justice Department has concluded its investigation into Federal Reserve chair Jerome Powell. This decision removes a significant obstacle to the confirmation of Kevin Warsh,
April 24, 2026