The problem with government spending

Political parties must be upfront about how they plan to finance the additional spending promised in their manifestos

The one certainty about the next government, no matter which party helms it, is that it will spend more than its predecessor. Political parties may have differences in spending priorities — Congress may spend more on redistribution, the Bharatiya Janata Party more on infrastructure — but even a cursory look at the manifestos for 2019 shows that there is unanimity on the need for the government to spend generously. In a country which is still poor (per capita income of only $2,000) and where market failures may exist (particularly in the social sector), there may indeed be a case for