governance, political economy, institutional development and economic regulation
Economic downturns are cruel. They impose traumatic disruptions in incomes and lives – salary cuts, extended long leave without pay, outright job loss, drying up of business income or bankruptcy. The cash crunch for government is at crisis levels The government is no different. Revenue receipt of the Union government in May (Rs 0.17 trillion) […]
Read More Fiscal murmursPrime Minister Modi is a “lucky General”. At a time when India seemed most vulnerable, God has chosen to level the field a bit by hitting the global economy and China with a pandemic which is sure to slow growth even further making us look relatively better. The misery of others often comes with collateral […]
Read More Red lining budget FY 2021The galvanising energy – one new scheme a week – which characterised the Modi years is ironically, also the cause of an uncertain victory this year. Too many reform steps pancaked Three simultaneous, mega reform initiatives stand out – reducing the fiscal deficit; implementing the Goods and Services Tax and cleaning out bank balance sheets. […]
Read More Triple whammy spoils BJP fiscal end gameAll governments game their performance metrics. Smart governments guard against falling for the make-believe themselves. The BJP stumbled in believing that India had earned an entitlement to grow, faster than China, at eight per cent per year. Well-intentioned measures — to end black money, resolve the stressed bank loans and reform indirect taxes added to […]
Read More Recapturing growth with stability
Opinion India 