The UPA government subsidised rates on various utilities raising the debt burden of the country, which in actual terms is debt to every citizen to be repaid by additional direct and indirect taxes. The predecessors of Modi government had budgeted a whooping Rs.2.5 trillion (US$ 41 billion) on fuel, food and fertilizer subsidies for the fiscal April 2014 to March 2015. That’s almost 2.5% of GDP and 15% of total expenditure for the year. To put it in a nutshell, if a particular family gets all household utilities on leverage, the cycle has to stop somewhere. The suppliers will downgrade the credit rating of this particular borrower, the risk which India faced in late 2012 and early 2013 due to lack of reforms. One decade of chronic speed of development has made most of us so averse to taking leaps in taking the country forward. The country which jumped to a growth rate of 8.5% and a favourable CAD of 2.3% lost the focus when the power at the centre changed.
You might like reading:
Twelve Core Qualities of a Business Analyst
Business Analysis is the core of project management. It is the first major activity starting after project initiation requiring multifaceted skills. Some of the skills or qualities required are prime than the other. The prime qualities are those which make a business analysis process perfect. Without these prime qualities one can not think of conducting a proper business analysis process or becoming a […]
A brief analysis of emerging HR trends in 2018
Human Resource is undergoing rapid and profound change.It was initially dominated by transactional work such as pay roll and benefits but human resource as of 2015 focuses on strategic initiatives like mergers, talent management, diversity, labor relations. The shift is happening rapidly as HR leaders are being pushed to take on a larger role to drive organisation .Human resource leaders […]
