India’s deteriorating fiscal condition

The Union government’s worsening fiscal trajectory with no meaningful measures to stop the deterioration, coupled with worsening state fiscal deficits, has raised India’s economic vulnerability sharply. What may act as a trigger for a loss of confidence in India’s economy—and when—is unknown, but the worsening trend is clear. Political parties should take note and come together with meaningful reforms to counter the worsening trend, else instead of political representatives, economic policy may end up being driven by the International Monetary Fund (IMF).

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