India’s flagging economy draws dire warnings of recession

Prime Minister Narendra Modi came to power on a euphoric wave of promises to boost India’s economy, add millions of jobs and bring “good times” to the developing nation.

Three years later, India’s economic prospects look decidedly grimmer. India’s economic expansion has slowed to its lowest level in three years. Small businesses are struggling, or even shutting down, after overhauls of the nation’s currency and sales tax system. Modi’s own allies warn of a dire outlook, with some raising the specter of an economic depression.

Indian Prime Minister Modi drops ministers as economy slips

India’s Prime Minister Narendra Modi on Sunday reshuffled some of his key minister’s portfolios to refurbish his government’s image, which has been dented by falling economic indicators.

Modi named Suresh Prabhu as the new commerce and industry minister and Piyush Goyal the railways minister. Dharmendra Pradhan was promoted as oil and gas minister. Modi dropped half a dozen ministers for failing performance.

A big surprise was 58-year-old Nirmala Sitharaman’s appointment as the country’s defense minister, an elevation from the post of junior commerce minister.

Report: economic growth failing to help world's poorest kids

Global resolve to rescue impoverished children from lives of squalor, disease and hunger has fallen short, with economic development in many countries still leaving millions of the most vulnerable behind, according to a UNICEF report released Tuesday.