Best of BS Opinion: States' unhappiness index, stressed assets, and more

Global forecasters are cutting their growth estimates for the Indian economy. Fitch Ratings, for example, now expects the economy to contract by 10.5 per cent in the current fiscal year, compared to its earlier estimate of 5 per cent contraction. Goldman Sachs expects the output to contract by 14.8 per cent. A sharp contraction, among other things, will affect asset quality in the banking system and make the recovery more difficult. Business Standard opinion pieces for the day, apart from other policy issues, talk about the banking sector.

While recommendations of the Kamath panel and the framework adopted by the