Image credit: Reuters/Soe Zeya Tun Having dug himself into a hole with demonetisation, Prime Minister Narendra Modi now needs to make a huge effort to climb out and hopes are riding high on the Union Budget for 2017-’18, to be presented on Wednesday. But there are severe limitations on what he can do.
The first budget after he assumed office, for 2014-’15, was a great opportunity for good economics. He could have dealt with burgeoning unmerited subsidies, huge tax-giveaways, unproductive industrial investments, building funds to modernise infrastructure, creating 12 million jobs a year and reforming governing structures. But he missed […]
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