Letters: Balancing for growth | Business Standard Letters

Letters: Balancing for growth | Business Standard Letters

Submitted version of the letter:

Fiscal Imbalance
This refers to the
article “Restoring federal balance”(January 28). This short, but excellent and
revealing analysis of fiscal management has come at the right time. Right time,
because the Finance Minister now preparing his first full-fledged budget has
the option to factor in some of the suggestions made by Andy Mukherjee at least
in the policy statement he will be making through the budget speech next month,
even if the content may not reflect in the projections about sources and uses
of funds he may make for the year 2015-16.
For policy makers in
Delhi, the replacement of Planning Commission by NITI Aayog is a god-sent opportunity to take financial planning to the
states and finally to grass roots level. This a second opportunity India is
getting after cooperative movement which the country did not take full
advantage of.
The sustenance and growth
of India as a country, in the long term, will depend on inclusive growth across
geographical areas and vertically across the rich upper class, middle class and
the majority which belong to the layer below these two by whatever name you
call them.
The comfort is, awareness
about all these is fast building up fast. The 2014-15 developments in this
country need to be viewed in this perspective. If Centre can ill-afford to miss
this opportunity to bring ‘prosperous’ and ‘poor’ states on the same page by
demonstrating the will to share resources equitably and supporting economic
development across geographies and populations.
M G Warrier,


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