Putting India back on the growth track demands a robust analytical framework to address the structural downturn in the economy caused by Covid-19
The banking system is mired in structural difficulties. Roads are being built, but India continues to be a logistics nightmare relative to its Asian competitors.
The Commission has also accomplished a remarkable job, given the clumsy and normatively biased Terms of Reference (ToR) that it had to work with
There are several welcome standalone reforms but these do not add up to a coherent strategy to achieve a $5 trillion economy
The economy requires a fiscal battle plan and this, in turn, requires a fiscal responsibility framework
If inequality of consumption is recognised as the major obstacle to tackling the climate crisis, then the conversation would be different
It is vital that we have a proper discussion on the medium-term economic and fiscal situation based on the Fifteenth Finance Commission medium-term assessment
The roots of the trust deficit lie in the unwillingness of the political authorities to invest in cooperative federalism since their priority is to secure and wield power at the central level
The fragility of central government finances is partly legacy, part refusal to acknowledge and address the problem due to the lack of strategic vision and poor institutional capability
If bilateral tensions escalate, then there may be a scenario in which India and China cease to trade
The Covid crisis makes "data driven" projections inaccurate, as the past provides zero guidance for the future.
It is important that the country now shift from a home ministry-driven administrative approach to an economic approach
India will have to address the big fiscal prudence challenge, which is not captured by the fiscal deficit/GDP metric
Coronavirus' genesis in China, and its transitive impact on global economic activity, portend important lessons for economists
It recognises it cannot afford space for expansionary fiscal policy