 "Bad structure, irresponsible politics behind India's poor fiscal governance")
What hope does fiscal responsibility have in India with our kind of political parties? Two things tell their own story.
First, all of a sudden, a problem everyone thought had been solved forever has come back with a bang. This is the problem of pensions for government employees.
Until 2005 it was a pay-as-you-go system. Then it was turned into a contributory system. Now, some of the non-BJP parties, mainly the Congress, which had implemented the new pension scheme in the first place, want to revert to the old pay-as-you-go system.
Rahul Gandhi is silent on this issue. This underscores
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