The day of Boris: On U.K. polls

The decisive victory the Conservative Party clinched in Thursday’s elections to Parliament gives British Prime Minister Boris Johnson, who built his campaign around the promise to “get Brexit done”, a clear mandate to take the U.K. out of the European Union without further delay. Initial results show that his party is set to win 364 seats in the 650-member House of Commons, the greatest performance of the Conservatives in over three decades. The Labour, led by veteran socialist Jeremy Corbyn, is expected to win 203 seats, its worst performance in decades. It is Mr. Johnson’s victory. He is the one who called for an early election after reaching a new divorce deal with the EU. He turned the poll into a de facto Brexit referendum, arguing that only a stable Conservative government could take the U.K. out of the EU quickly and end the lingering political standoff. His strategy was to consolidate the pro-Brexit vote, get a fresh mandate in Parliament and then quicken the divorce

Twin troubles: On low growth and high inflation

Economic data released by the government on Thursday suggest that India may be stepping even closer to stagflation. The Index of Industrial Production (IIP) contracted 3.8% in October, as against a healthy growth rate of 8.4% witnessed during the same month last year. Industrial output, it is worth noting, had shrunk by 4.3% in September. At the same time, retail inflation jumped to a 40-month high of 5.5% in November fuelled mainly by a sharp jump in food prices. Retail inflation is now in the upper band of the inflation range targeted by the Reserve Bank of India (RBI) but might drop as fresh food supplies hit the market. Low growth combined with high price inflation is sure to cause further headaches for policymakers. Economic growth has declined for six consecutive quarters now, making it one of the longest downturns in recent history. With inflation raising its ugly head now, the RBI, which held rates stable in its recent policy meet, is unlikely to cut rates aggressively in the
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Savings with a bonus — financial peace of mind

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Comment

Britain votes for Brexit

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Lead

In the name of a majority

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Open Page

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Book with flying letters art. Vector Illustration
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Triumph over adversity Tsering Dolkar, right, with her sister and daughter, Phunchok Dolma.
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The braveheart of icy, hostile Khardung La

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