The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
Inclusive growth is about enabling wider participation in the growth story, but the current if fiscal debate is about how to compensate losers using annual Budgets, says Rathin Roy.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
Over 15 years, with seven per cent growth, the Indian economy will be three times bigger.
The ripples from November 8 may be seen in next year's state budgets.
The notes argue that it will widen the talent base available to govt to deliver increasingly complex services to a demanding population.
Poor predictability, credibility and effectiveness of fiscal performance have been key reasons for successive governments failing to deliver on their promises.
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
The revival of long-term growth is highly dependent on the revival of private investment.
The finance ministry and RBI must get less conservative and improve co-ordination.
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