Kaushik Basu said that I was always in favor that the prices of petrol and diesel should not be controlled. But as the government is doing, it should not impose artificial tax in this way.
On policymaking, Basu said, “The bureaucratic decision-making was slow. Initially it frustrated me. I argued that decision-making should be more divided. Demonetisation was a quick decision but a wrong decision.” Was. Taking quick decisions without expertise is harming India in a big way. Taking quick decisions doesn’t mean taking any decisions without any expertise.
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All parties should cooperate while taking economic policy decisions, politics is spoiling economic policy decisions and it is harming India. Inequality is unacceptable in the world and collectively, both in India and the world, the super rich will have to pay very high taxes.
India has historically been lauded for taking world class decisions. There is a need for a lot of cooperation between the center and the state on economic policies. Centre-state cooperation in India has become very weak. Political war is dominating economic policies. Youth unemployment is an example of this.
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Markets, benefits and incentives are all necessary but must be balanced. To reduce inequality, the super rich have to pay a lot of taxes which are paid to the poor. Many wealthy individuals in India have a progressive outlook on high-taxes.
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