With a middle class still so small and no apparent leaps in productivity on the farm or in manufacturing on the horizon, India faces its own age of diminished expectations.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
'Our first great challenge is to create 12 million new jobs each year, to make the demographic dividend an economic dividend.' 'We are nowhere near that,' points out Mohan Guruswamy.
India as a large country should have inter-modal connectivity, which will help us make travel easier, safer and seamless. That is how you will also gain. You will gain more money, make more revenues, says Praful Patel.
Excerpts from a speech on the Supplementary Demands for Grants, December 15.
Following the Budget being announced by Finance Minister Arun Jaitley, leaders across the political spectrum provided their views.
A government that confuses PowerPoints for policy is delaying structural change too much.
One Rank One Pension (OROP) will have a significant impact on the country's fiscal bill and the overall cost will be around Rs 16,000 crore.
Formidable challenges including funds for the farm loan-waiver, and law and order stare him at his face, with the opposition claiming the misses have outnumbered the hits.
Urban markets account for the major share of total revenues.
There are some 20-odd schemes with this default provision, or something close to it.
Every demand of the armed forces remains essentially anchored to 1964 and its fulfilment or otherwise largely a function of money availability
'If Modi sincerely thinks that Dalits are also Hindus then spread this message to the entire nation through programmes like Mann Ki Baat.' 'We would love to listen to the PM tell the nation to look upon us as fellow Indians and human beings.'
'Making the railways better is a different type of a challenge.'
Arun Jaitley had a tough fiscal hill to climb.
'Pakistan thinks it is winning this low intensity conflict.' 'It is a serious observation. Half the battle is convincing your adversary that he cannot make headway.' 'A lot depends on how the internal professional management of the army and the handling of situations that are bound to rise sooner than later in his command, are done.'
'India is likely to do better than other emerging markets.'
Are we adopting an idea whose time has come and gone? My feeling is, yes, says ex-banker C Joseph Chacko in the fourth article of the series on inflation targeting.
A buoyant economic mood and tempting discounts, both online and offline, are fuelling a shopping frenzy this Diwali.
Fulfilling the promises made in the manifesto, a resurgent Opposition in the state assembly, impending local body polls... Tamil Nadu Chief Minister Jayalalithaa may have made history by winning two assembly elections in a row, but the real test begins now, says N Sathiyamoorthy.
'It is the government's most important duty to ensure that when war breaks out, the armed forces are absolutely ready to face the adversary -- well equipped, well trained and in high spirits,' says Brigadier Gurmeet Kanwal (retd).
