It's really a pity and a challenge to the system particularly those who are in power, that even after 67 years of Independence, we have a lot of people living below poverty line. We have issues like rural-urban divide and serious economic disparities. Then we hear of farmers' suicides and sometimes of hunger deaths here and there. And then we get criticisms about the system not being sensitive to the vulnerable sections.
While the entire world is watching how Prime Minister Narendra Modi is courting Chinese President Xi Jinping along the ghats of Sabarmati, India has quietly implemented a high-decibel diesel price reform that will help in narrow the twin deficits -- fiscal and current account -- and may improve India's sovereign rating.
18th July 2019
Given that Nirmala Sitharaman presented her maiden budget against the constraints of slowing growth, limited fiscal space, tepid consumption and investments and global headwinds, she has done a remarkably prudent job by striking balance between fiscal consolidation and supporting inclusive growth.