Budget should avoid subsidies and protection to biz

Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term

One of the main themes of the forthcoming Budget should be to build a globally competitive India. A fearful India will find it difficult to achieve the vision of becoming a developed country by 2047.
 

Despite all the bravado and rhetoric, India has turned more protectionist since 2014. It is due to the fear of competition that India walked out of the Regional Comprehensive Economic Partnership (RCEP) agreement after nearly ten years of negotiations. Ms. Amita Batra, Professor at Jawaharlal Nehru University, has written a number of brilliant articles in this newspaper highlighting how the tariff and non-tariff barriers, and