Mihir S Sharma: No more 1970s Budgets, please

UP's lesson for the Budget: end mai-baap sarkar, for voters and companies alike

As everyone now knows, the United Progressive Alliance (UPA) is a little like Bollywood. It lives in the 1970s. The 21st century is something of a mystery to its leaders and its ministers. They don’t quite understand the internet. They try to micro-manage their schemes. They’re running public-sector enterprises into the ground. They don’t allow state governments to take policy initiatives. They think spending is a substitute for good implementation — and even for sound ethics. And so they spend too much, expecting the money will come from somewhere. They publicly ...