Apparently, the Union government brought a populist budget with an aim to garner votes in Lok Sabha polls due this summer. On the heels of it, a number of states have unveiled their finance bills. What's common is that all political parties believe the best way forward is expanding welfare with an assumption that growth will take care of itself. None of them seems to be keen on reforming the structural aspects of government expenditure which will bring inflationary trends in the long run. This does not bode well for the country as the foundation of the growth remains fragile.
KHOKAN DAS Via email