NDA 3.0 must use political capital to implement structural reforms in upcoming Budget: D. Subbarao
2 months ago

NDA 3.0 must use political capital to implement structural reforms in upcoming Budget: D. Subbarao

The Hindu  

The NDA 3.0 government must use its enormous political capital to implement 'politically difficult' structural reforms in the upcoming budget to promote growth and job creation, former RBI Governor D. Subbarao said on Thursday. "This is the first full budget of the NDA-III government and it must use its enormous political capital to implement politically difficult structural reforms," Mr. Subbarao told PTI in an interview. "It is not clear if this competitive populism pays off in terms of votes since all political parties are in the game, but it casts a huge fiscal burden especially because these so-called freebies are being funded by borrowings," Mr. Subbarao said. "Some time ago, the Prime Minister decried the revdi culture but had not followed up on that," Mr. Subbarao said, adding that given the pressure of vote bank politics, no single political party will voluntarily adopt restraint.

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