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When it comes to the focus of its annual budget, the Narendra Modi government faces a stark choice: between $200 billion and 200 million. The first figure refers to the size of the budget deficit. Amid rising inflation and hardening global interest rates, is it wise to have a bloated shortfall for a third year? The second number should help with a possible answer: 200 million
If Modi’s government is going to operate in deficit, it should spend some of that money on creating much needed work
Amid rising inflation and hardening global interest rates, is it wise to have a bloated shortfall for a third year? Also, 200 million jobs are missing from the economy — they’ll be hard to revive without fiscal policy playing a supportive role
India’s middle-class consumer market is not big enough to support Narendra Modi’s protectionist drift.
(Bloomberg Opinion) -- Shortly before the 2014 election that made him prime minister, Narendra Modi came up with the idea that India’s young population, constitutional checks on arbitrary political power and large domestic market would bring prosperity over a decade.