The article discusses India's Budget 2024, emphasizing the prioritization of debt reduction over increased spending. It highlights the significant interest burden on the government, which accounts for a substantial portion of the expenditure increase. The debt-to-GDP ratio is projected to decline, but interest payments remain a constraint on development expenditure. The article suggests a need for a time-bound debt reduction path to alleviate the interest burden and align with fiscal consolidation goals. It also touches on state-level reforms in areas like land, labor, and capital, emphasizing the importance of a bottom-up consultative process for successful implementation.

The article investigates and characterizes the electrical properties of various contact configurations involving graphene, aluminum, and zinc oxide. The study is authored by researchers from Raiganj University, REVA University, and Sree Vidyanikethan Engineering College, focusing on the material science and electronics domains.

The article examines the complex issue of resource allocation from the union government to Indian states, focusing on the perceived unfairness in transfers, particularly between southern and northern states. It highlights the importance of both budgetary and non-budgetary financial flows, noting that fiscal inequalities cannot be addressed solely through union-state transfers. The piece discusses the historical context of tax devolution criteria and the impact of migration on fiscal dynamics. It argues for a comprehensive view of resource flows and suggests that addressing fiscal capacity inequalities requires both revenue expenditure equalization and access to capital investment.

India's states collectively manage more than a third of total revenue and 60% of government expenditure, with a significant share in government borrowing. An up-to-date understanding of state finances is critical for assessing the country's fiscal situation. Post-pandemic fiscal corrections have been made at both Union and State levels, with a notable decline in fiscal deficits. However, challenges remain, particularly in reducing the revenue deficit. The analysis of 17 major states, which account for over 90% of combined state spending, shows fiscal consolidation efforts. Seven states, including Andhra Pradesh and West Bengal, are identified as fiscally stressed, with revenue deficits driving fiscal imbalances. The article suggests linking interest-free loans to revenue deficit reduction and considering performance incentive grants to manage revenue deficits effectively.

The transition to GST in India has been complicated by the pandemic, leading to significant borrowing to finance GST compensation. States' demand for an extension of the compensation period is understandable given the fiscal impact of COVID-19. However, the current compensation mechanism, which is based on a uniform 14% growth rate, is both inequitable and inefficient, as it does not account for actual tax performance or state-specific challenges. The author suggests that if compensation continues, it should be redesigned to incentivize revenue collection and reduce the fiscal cost of tax harmonization. The impact of COVID-19 and the recovery of tax revenue is asymmetric across states, and a state-specific fiscal support program may be more appropriate.

This special issue of Economic and Political Weekly on the Union Budget 2023-24 examines India's post-COVID-19 fiscal developments, focusing on fiscal prudence, growth, macroeconomic stability, development spending, and union-state transfers. It also explores the complexities and effectiveness of an independent fiscal council in India, drawing on international experiences. The issue includes articles on growth and fiscal consolidation, fiscal and monetary interaction, the electoral cycle, the financial sector, and agriculture. Future articles will address private sector recovery, fiscal balance, the external sector, and financial inclusion, particularly digitization focusing on women.

As the FIFA World Cup 2022 progresses to the quarter-finals, Phil Ball, a football expert, discusses the potential outcomes and surprises of the tournament. He is not surprised by Spain's exit after losing to Morocco, attributing it to strategic missteps by coach Luis Enrique. Ball predicts a challenging match for Argentina against the Netherlands, suggesting they might lose. He highlights Brazil and France as strong contenders for the title, while noting Portugal's improved performance without Cristiano Ronaldo. England's potential against France is also analyzed, with concerns about their defense.

The text discusses the use of the DBSCAN algorithm for analyzing hurricane track data, comparing it with a global threshold method. It highlights the importance of parameter selection in DBSCAN and the impact of outliers on trend analysis. The findings suggest that excluding outliers can significantly affect the results, particularly in noisy data.

Globally, the total support during the COVID-19 pandemic, including revenue foregone, expenditure stimulus, and liquidity support, was estimated at $17,000 billion. Central banks in many countries, including India, have raised interest rates to manage rising inflation, shifting focus from growth to inflation management. The increase in money supply during the pandemic, as indicated by the growth of central banks' claims on central governments, was significant in major economies. Both domestic and external debt stocks increased sharply during the pandemic, with low- and middle-income countries experiencing a notable rise in external debt stock to export ratios. The global economy requires coordinated policy for monetary tightening and fiscal sustainability, with a need for fiscal normalization plans that avoid adverse distributional consequences. Low-income developing countries spent less on COVID-19 responses compared to advanced economies, primarily on health and emergency responses. Rising debt and inflation pose macroeconomic challenges, necessitating international cooperation for resource flow to poorer regions for equitable recovery.

Foreign volunteers, including Norwegian Damien Routisseau Magrou, have joined the Ukrainian army to defend against Russian invaders. Magrou, who was already living in Kyiv, became the first foreigner to enlist following President Volodymyr Zelenskyy's call for international support. The Ukrainian army has since recruited fighters from 52 countries, focusing now on those with prior combat experience. Volunteers undergo rigorous assessments and sign contracts with the Ministry of Defence. The article highlights the structured recruitment process, the diverse nationalities of the volunteers, and the historical context of foreign fighters in Ukraine.