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Time for the Modi Government to rise above mythical assumptions and go on hard slog to restore growth and stability to the 2-trillion dollar economy. Judging from a brutal, if benignly worded, assessment from IMF on the state of post-demonetisation economy, India needs to get its act together on a wide front- fiscal, structural, inflationary and external – as risks abound.

Post-demonetisation, the verdict on India’s economic performance from reputed global institutions has seldom been unambiguous. However, the International Monetary Fund (IMF) was the first to lower India’s gross domestic product (GDP) growth for the current fiscal to 6.6 per cent in its updated world economic outlook report a couple of months ago. This was at a time when the domestic authorities and other cheer-leading public and private institutions were cocksure of India’s growth clocking 7 per cent in 2016-17.

THIRUVANANTHAPURAM: The abduction and alleged rape of a prominent Malayalam film actress by a criminal gang in Kochi and the police failure to nab the prime accused has pushed the LDF Government, already on the mat in a case relating to the death of a BTech student, further on the defensive.

Manipur goes to polls next month. Elections to the 60 seats of the State Assembly will be held in two phases – March 4 and 8. This Assembly election is going to be totally different from all other elections in the past. It is the Naga issue that is dominating the election scene. The Nagas mounted an economic blockade of the State on the 1st of November last year, to protest against the creation of seven new districts by the Congress-run Manipur Government. They think the creation of the new districts is intended to divide the Nagas living in Manipur and weaken them politically.

This is an election month, with voters from Uttar Pradesh, Uttarakhand, Punjab, and Goa selecting their representatives in the legislative assembly. Since stakes are high, politicians are trying to woo their voters by promising to give free Wi-Fi, smartphones, pressure cookers and petrol. Politicians can afford these freebies as they are rich.

When Narendra Modi persuaded LK Advani and others in the BJP’s old guard to retire from active politics, he must have felt happy over establishing complete control over the party. But he may not have realized how heavy a burden he will have to carry. Now the assembly elections cannot but have made him aware of this onerous responsibility.

Tamil Nadu is now in political turmoils, a fragile AIADMK Government of E. PalaniswamI scrambling a wafer-thin majority in a confidence vote on Feb.18, after an ugly display of violence against the Speaker, damage of Assembly equipment, and uproar by DMK members, all designed to suit the game plan of Leader of Opposition Mr. M.K. Stalin to stall proceedings.

Notwithstanding US President Donald Trump’ climb-down on One China policy, tension brews over the Sino- USA trade and investment. It is unlikely that Trump’s assurance to follow 40 years USA’s One China policy will soothe the relation and retrieve the normal trade relation. Though the White House statement viewed Trump’s direct telephonic call to President Xi Jinping very cordial and ensuring for a substantial dialogue between Washington and Beijing to re-rail the ties, normalization of trade tension is a far cry. China is the trigger for USA’s wide trade deficit. It accounts for 48 per cent of USA‘s global trade deficit and causing a big damage to the American jobs opportunities.

It is good that India has finally waken up to the perils of its growing large trade deficits with diplomatically belligerent China and sent a strong message that the current trade imbalance can’t continue for long. On the diplomatic front, China continues to put India under pressure — refusing to support India’s nuclear suppliers group (NSG) membership and its campaign against Pakistan-based terrorists and their outfits that launched dreadful attacks in Mumbai, Pathankot, etc. China also contests India’s territorial rights over Arunachal Pradesh and Jammu & Kashmir and interferes with India’s relationship with Taiwan and Tibetan leader Dalai Lama. China even mocked at ISRO’s feat creating a world record by launching 104 satellites at one go saying it is hardly admirable for impoverished India. However, thanks to India’s stance to delink diplomacy with trade, China is running a massive trade surplus with India to the latter’s utmost discomfort. India now seems to be ready to take up the trade issue with China as, for the second year in a row, India’s trade deficit with China is set to top the $50-billion mark in 2016-17, the highest with any single country.

THIRUVANANTHAPURAM: The escalating war of words between the CPI(M) and the CPI is causing concern in the Left Democratic front (LDF) circles.