Is government implementing reforms to cement economic recovery?
The medium term policy cum fiscal policy strategy statement, that forms the part of the budget documents states that the "Government has initiated structural reforms both on the supply and the demand side." It is argued that these structural reforms "have fiscal implications and are important tools to boost economic performance" and the "impact of these measures initiated is anticipated to have spill-over effect in the next financial year." By implication, the government is claiming that the short term growth has been sacrificed to cement the high growth trajectory in the medium term. The statement claims that "the measures initiated by the Government to cement the economic recovery are anticipated to have effects in the next FY as well." This leads me to revisit the debate whether the administrative changes to improve efficiency & eliminate redundancies; and incremental changes in the current practices, policies and progra...