The message of caution is necessary because govts in the past have often shown a tendency to indulge in fiscal jugglery to hide the actual extent of their fiscal deficit.
India has a large vertical fiscal gap, which has been increasing. The reason is that while the Constitution assigns the most buoyant taxation powers to the Union, it allocates more spending responsibilities to the states.
As the discontentment mounts, the crucial question remains: what is the PM thinking? He is a shrewd politician so he must have a long-term strategy. But no one can figure out what it is.
Government as an anchor customer provides a stable source of demand for space-based services, reducing uncertainties in the market. It can boost investor confidence in the Indian space sector, attracting investments from home and abroad.
At a post-budget conference, the minister took industry leaders to task for not cooperating with govt. Last week, Economic Survey & govt officials had also criticised private sector.
Of 43,000 private hospitals in India, only 30% are empanelled under PMJAY. As the Centre prepares to expand the scheme to include senior citizens, this could become a problem.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
COMMENTS