Moneycontrol
you are here: HomeNewsIndia
Feb 12, 2018 05:23 PM IST | Source: NEWS18.com

Arvind Panagariya voices concern over budget, branded 'foreigner'

Arvind Panagariya, the Indian-American economist who served as the vice-chairman of the NITI Aayog, wrote a column for the Economic Times dissecting the Union Budget 2018.

Arvind Panagariya, the Indian-American economist who served as the vice-chairman of the NITI Aayog, wrote a column for the Economic Times dissecting the Union Budget 2018. But what surprised observers was that Panagariya, who was the blue-eyed boy of the establishment, castigated the government's budget and said it signaled a return of the pre-1991 protectionist 'License Raj' of the Indian state.

"When GoI raised custom duties on a number of products in December 2017, as an eternal optimist, I took the view that this had been done for revenue reasons. But increases in duties on a long list of products ranging from kites and footwear to cellular mobiles phones and motor vehicles in Budget 2018 have ended that optimism," Panagariya wrote in his opinion piece.

Read More.....

tags #Economy

Sections
Follow us on
Available On