While Centre makes progress lowering debt from pandemic peak and cutting borrowing costs, states face slower adjustment with limited market discipline, survey finds.
Next round of state elections will see more welfare promises. However, these freebies may be offered at the cost of investment in infrastructure required for a modernising economy.
We now live in a world order that will keep shifting. India must use this window. This also means we remain disciplined enough not to be knee-jerked into reacting to what Pakistan sees as its moment in the sun.
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