The external current account deficit remains our biggest worry today.
By way of illustration, there have been increasingly frequent reports in the press of proposals for India to provide special funds to support overseas investments by public sector resource firms so as to ensure security of supply for key minerals and fuels.
Economists say there aren't many options with the government at present, given the drought-like situation which would only spur its spending.
Squandering of taxpayer money over the Commonwealth Games highlights the sad lack of financial governance.
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
Eminent economists, during a panel discussion on Friday warned that India's GDP is likely to grow at a lower 5.6-6.25 per cent this year but said inflation would stabilise at 6-7 per cent in the country.
Experts say the party is undoing what it achieved through MNREGA by targeting beneficiaries
New Delhi was reluctant to spook investors by clipping the bank's wings
RBI unsure whether to cut rates or not in its next monetary policy.
'Economically, if there are too many losers, macro-demand will suffer and undercut growth.' 'In more developed societies, the issue is resolved through the provision of safety nets, which don't exist in India.' points out T N Ninan.
The need for co-ordinated policy between Centre and states was likewise foreseen and assigned.
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
Many ministries couldn't use the allocated funds since it came into force, resulting in much-needed savings.
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Candidates in the current state elections must be made to offer specific promises against which their performance can be measured, says Indira Rajaraman
A large number of rich farmers, who earn more than salaried employees in the cities, get away with paying no tax at all in view of the government's lack of will to consider an agricultural income tax
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
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