Best of BS Opinion: Election-year budgets, beyond due process, and more

Here is the best of Business Standard's opinion pieces for today

Several commentators have argued that the Union government should not deviate from the fiscal consolidation path. Their fear is not unfounded. As the latest South Asia Development Update of the World Bank highlighted, there is a tendency to increase spending and budget deficits at the time of elections. In this context, our lead editorial notes that a deviation from the fiscal consolidation path will make attaining the medium-term target of reducing the fiscal deficit to below 4.5 per cent of GDP by 2025-26 extremely difficult. Sustained higher interest payment not only limits the government’s ability to support growth, but higher fiscal deficit and public debt also increase macroeconomic risks, particularly in an uncertain global environment. Read here

On the NewsClick issue, our editorial notes that the latest actions make it difficult to avoid the conclusion that the state is seeking to stifle critics with the full might of its coercive laws. Read here

In other views:

Professional military education should be entirely restructured to expand officers’ cognitive space, which will facilitate their understanding of macro issues. India’s armed forces must focus on this question more seriously, writes Ajai Shukla. Read here

Any rational approach must start with the acknowledgment that controlling pandemics is in everyone’s interest, writes Joseph Stiglitz on preparing for the next pandemic. Read here

Quote

 

“Unfortunate and a disgrace to democracy and traditions of freedom.”

 

Congress Member of Parliament Shashi Tharoor on the NewsClick issue