 "Narendra Modi")
Prime Minister Narendra Modi on Tuesday said that the new model of public finance, where states were allowed to exceed their annual borrowing limits in 2020-21 only if they undertook certain pre-specified reforms, is a classic example of the new model of ‘reforms by conviction and incentives.’
In a blog posted on LinkedIn, Modi said India has seen a model of “reforms by stealth and compulsion.” This is a new model of “reforms by conviction and incentives.”
“This was a nudge, incentivising states to adopt progressive policies to avail additional funds. The results of this exercise are not only encouraging but also
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