India

Authored by Andrew Korybko via Oriental Review,

Inhabitants of the heavily populated city of New Delhi, India are baffled why the government has strapped a cone-shaped water cannon to the back of a pick-up truck. Perhaps, their cognitive processes are slightly skewed these days, as apocalyptic smog blankets their region.

One politician said, “Delhi has become a gas chamber. Every year this happens during this part of the year” (See: “Delhi Has Become A Gas Chamber” – Apocalyptic Smog Causes Health Concerns For Millions).

Authored by Pepe Escobar via The Asia Times,

Is the world's center of gravity shifting to the heart of the Indo-Pacific – a new pivot to Asia?

In October, we discussed Indian Prime Minister, Narendra Modi’s, decision to hand over $32bn to recapitalise India’s state banks. The motivation was India’s slowing growth rate and the need to add one million Indians to the workforce every month. Crippled by massive bad debts, the state-owned banks were struggling to extend more credit to the economy. The announcement caused a surge in India’s Sensex equity index, led by the banks.

Moody’s upgrade to India’s credit rating comes as a much-needed boost for India’s Prime Minister, Narendra Modi, who has been criticised for the fallout from the goods and services tax (GST) and demonetisation reforms. Indeed, Moody’s argued that Modi’s reforms will help to stabilize India’s rising debt levels. According to Reuters.