'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.

'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.

No one expects the government to publicly concede policy mistakes. But it can shed denial; and, stop the point-winning debating style to the formulation of public policy, says Rahul Khullar.

We should brace ourselves for more bad news in the coming quarters -- on economic output and growth, strains on the fiscal deficit, export slowdown, small and micro enterprises in distress, and further accumulation of NPAs in the banking sector, says Rahul Khullar.

This is not the first time Trai has been accused of bias; and, in my memory, never have such charges of bias been leveled against any other regulatory body, says Rahul Khullar.

Well then, what did DeMo achieve? As predicted by most economists, the volume of transactions fell, economic activity was adversely impacted, and some sectors (which were more dependent on cash transactions) witnessed greater disruption than others, says Rahul Khullar.

Make in India right now is just a slogan. The policy content is missing or not clearly articulated. The lion with cogs and wheels must now show some majestic movement forward, says Rahul Khullar.

Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.

Over 20 years, connectivity has massively expanded. But 50,000 villages have been left behind.

The savings would be better spent and might actually reach the poor, says Rahul Khullar.

India must streamline reforms, only then it will see success.

It is domestic policy distortions and inaction to correct them that lie behind the large CADs.