Best of BS Opinion: Building Blocks, We Missed the Industrial Revolution and More

The next Union government, which takes office later this month, will be in a very comfortable position on the economic front: the economy is growing at a decent rate, fiscal consolidation is accelerating, inflation outcomes are improving, bank balance sheets are healthy and exchange rates are good. reserve comfortably. However, much of the post-pandemic recovery has been driven by government spending; and an improved fiscal deficit is largely due to a Reserve Bank of India bonanza. To build on this, the next government would do well to accelerate the glide path towards fiscal consolidation to make room for the private sector, which will be a driver of growth in the medium term. Policies to boost global competitiveness and create jobs will be critical to taking India to the next level of economic growth, the top editorial said. read it here

Ajit Balakrishnan asks what it is in India’s political economy that stands in the way of innovation. read it here

Debashis Basu argues that ‘Viksit Bharat’ means wealth and prosperity trickling down to the common man. read it here

The second edit explains why Trump’s conviction will increase political friction in the US. read it here