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.
South India's situation is unlike any in large federal unions across the world. US, UK, China, Germany, and Spain correct their fiscal imbalances through tax policy. India is making it worse.
India’s civil services were once called the ‘steel frame’. But steel is forged in fire, not moulded in a coaching class. While dilution has made the exam easier, it has also made it harder to find the game-changers we need.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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