The Modi govt needs to do 5 things
| | | | | | | To help India tide over the economic slowdown, the Narendra Modi government needs to do five things, says economist and entrepreneur Laveesh Bhandari: present an honest budget which reveals the full extent of the fiscal deficit; ensure that government departments make payments they owe to other private and government entities on time; do away with the notion that the rupee’s exchange rate needs to be stable; discontinue import duties to protect domestic industry; and avoid indulging in a spending spree.
The empirical economist, who was among the economists and businessmen invited by the NITI Aayog recently to attend a meeting presided over by Modi for discussing the economic slowdown, told HuffPost India in an interview, “I think the first thing which is really critical is to recognise that the government budgets are extremely dishonest as of now. It has gotten so bad that even parts of the government may not be knowing what is really happening.” |
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