M Govinda Rao

India's states are starving education to feed freebies. It will hurt

Far from empowering the poor, the proliferation of freebies could have the opposite effect, harming social and economic outcomes

India's next Budget must balance fiscal discipline with growth push

The phasing out of the import of Russian oil might increase the cost of importing crude oil and escalate Budget expenditure

More than resilience, economy needs hard-nosed reforms to sustain growth

It is necessary to see the challenge posed by the prevailing situation as an opportunity and respond effectively to make the economy competitive

Simplifying GST rates is welcome, but real competitiveness needs more

Rate rationalisation is welcome, but more work is needed to eliminate cascading taxes

India can't beat Trump on tariffs, so it must drop its own trade walls

The only way to improve farmers' fortunes is by increasing productivity, not condemning them to penury in the name of protection

Karnataka's high intra-state disparity shackling broader human development

Karnataka's rapid growth since 1991 hasn't translated into broader human development. It is time for a policy reset

Avoiding the growth mirage: Reforms must go beyond capital infusion

Despite some setbacks and global uncertainty, the economy has shown remarkable resilience and is poised to surpass Germany before the end of the decade to become the third-largest

State rankings 2025: A closer look at assumptions and indicators

The report ranks performance of states in terms of 7 pillars - namely, economic, fiscal, financial, infrastructural, social, governance, and environment - and works out composite index to rank states

India must seize Trump shock as moment for deep structural reform

The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US

Global tax evasion fight: Why MNCs, HNIs still outsmart regulations

Multinationals and high-net-worth individuals (HNIs) dodge taxes in a variety of ways. The most common way for multinationals is through the transfer pricing mechanism

NITI Aayog's fiscal health index needs clarity and better data use

Despite fact that Constitution assigns states predominant role in provision of social services and co-equal responsibility in economic services, their fiscal performance has not received much focus

Noble intentions, but questions remain: Budget's allocations fall short

This was an opportune moment to get rid of the old tax system entirely and move fully to the new one. A broad-based, low-rated, and less differentiated tax structure is the need of the hour

Retrospective taxation risks: Supreme Court ruling and its economic fallout

To have an accommodating investment climate, it is important to ensure stable governance

Policy path forward: Balancing inflation control and growth revival

Despite the growth slowdown, a rate cut-cycle is unlikely to start anytime soon

India's federalism dilemma: Cooperative model or competitive reality?

Much as India desires the existence of cooperative federalism, what it often witnesses is competition

Second-Gen GST reforms needed for simplicity, equity, competitiveness

Streamlining rates and expanding GST coverage can enhance revenue and reduce distortions; political buy-in remains a key challenge

Tyranny of GST status quo: Incremental changes fail to address the problem

The reluctance to undertake comprehensive rate rationalisation, fearing revenue loss, is short-sighted

Onwards to Viksit Bharat

Initiating policy reforms on the priorities outlined in the Budget without delay is crucial for India's developmental goal

Union Budget 2024: Fiscal balance amid coalition compromises

Tinkering with rates proposed in the Budget does not change the protectionist stance and there is a need for rethink on the issue

Towards a good and simple tax

Despite making gains, next-generation reforms are required to expand and streamline the GST