The proposed Debt Management and Fiscal Responsibility Bill does not achieve its basic objective – to constrain absolute government discretion to deviate from the path of fiscal consolidation.
There is a desperate need to break the orthodox, widespread belief that all deficits and debt are equally undesirable.
Potential challenges include the problem of resource raising, India’s fiscal consolidation promises and our energy security needs.
How credible is the government’s fiscal consolidation plan when it is struggling with the country’s significant legacy problems?
The Indian tendency to prevaricate and not take tough decisions means the government has very few options as it tries to impose financial discipline
How do we reconcile the improvement in the macroeconomic numbers with a certain discontent on the state of the economy?