 "Best of BS Opinion: Alternative growth path, onerous disclosures & more")
The idea of becoming a manufacturing export powerhouse like China, as the vision in the latest Budget suggests, may not be feasible for India, former Reserve Bank of India governor Raghuram Rajan has argued in a paper co-authored with Rohit Lamba. Instead, they recommend that India should strengthen its position in services. Is this a workable strategy for faster growth? The top edit outlines the pros and cons. Read it here
In other views:
Arvind Subramanian and Josh Felman examine the options for India as a high fiscal deficit and interest burden signal the return of monetary policy influenced by public finance. Read it here
A K Bhattacharya points out that the fiscal consolidation plan outlined in the Budget leaves two critical questions unanswered: the promised amendment to the FRBM Act and the glide path for the years 2023-24 and 2024-25. Read it here
The second edit explains the tricky issues that the new reporting requirements for the CSR mandate pose for companies. Read it here
QUOTE OF THE DAY
“Ahead will be a difficult trial. There will be losses. You will have to go through pain and overcome fear and despondency.”
Oleksiy Reznikov, Ukrainian defence minister’s message to troops
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