Capital expenditure undertaken hastily to meet year-end targets dilutes the quality of the exercise and undermines the economy's benefits from such investment.
After studying the Great Depression, Keynes concluded that in times of huge economic stress, the government should become the spender of the last resort.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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