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Rahul Khullar: No big bang reforms

The failure of the 700MHz auction last year was a blessing

Rahul Khullar 

Rahul Khullar

When expected buoyancy in tax revenues abates, governments start looking at non-tax revenues (NTRs) to bail them out. This was to be the year of NTRs. The demonetisation (DM) venture was expected to be a goldmine. There was talk of Rs 4 lakh crore of kaladhan being wiped out.

This was expected to yield a bonanza in terms of Reserve Bank of India surplus transferred to the government. Sadly, no such luck. The Economic Survey notes that NTRs in 2016-17 have been “challenged”. Shortfalls in spectrum and disinvestment receipts together with smaller dividends from public sector ...

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First Published: Wed, February 01 2017. 23:46 IST