Data on state budgets is patchy and irregular yet given that they collectively outspend the Centre, such information is becoming vital for any accurate assessment of the Indian economy. In fact, even a study of the limited unaudited data available for 20 large states points to a developing anomaly, writes A K Bhattacharya. States have performed poorly on revenue collection but outspend the Centre, especially on revenue expenditure. The Centre, on the other hand, is making huge gains in revenue through both collections and reduced transfers to the states but has kept expenditure under control. The Centre, therefore, will celebrate its fiscal prudence, but the states will suffer. Read his analysis here
In other views:
The second edit
says this year’s Nobel Prize for Economics discovered the power of the “natural experiment” in providing clear answers to vexed economic questions. Read it here
India needs to come up with a more robust response to China’s border incursions, the top edit
argues. Read it here
explains why independent directors need more training and alignment with the behavioural aspects of governance, not only about the laws. Read it here
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