Economix: China’s subsidy machine has broken global trade. India shouldn’t copy it
For three decades, India has been advised on the importance of fiscal discipline, with recommendations to maintain tight deficits, rationalise subsidies and allow market-driven allocations. India has largely adhered to these guidelines, often with difficulty and under close observation. In contrast, the world’s second-largest economy has been implementing one of the largest industrial subsidy programmes in history, which international bodies have not openly addressed. ThePrint Consulting Editor (Economics) Bidisha Bhattacharya explains: #Economix----more----Read full article here…
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