Major items in the package include freezing public sector salary raises and hiring; entirely eliminating 10 of 39 ministries; cutting 1,000 jobs and reducing housing and health-related social spending.
The faster-than-anticipated downgrade from investment grade will likely rock Brazilian financial markets on Thursday and will increase borrowing costs for the government and Brazilian companies.
NITI Aayog has constituted an expert panel to suggest ways to promote innovation and entrepreneur friendly ecosystem for pushing job growth, Parliament was informed on Friday.
Yesterday, for the sixth consecutive day parliament was paralysed after being disrupted by its own members. But is this an acceptable way of protest or is it an affront to democracy? Experts discuss.