Thumbnail art by Naveen Hari The budgetary white paper has caused much stir in the political landscape of Kerala. The report claims of a looming financial crisis in the system. However, the analysis squarely can be fit into what is known as the Treasury View. The logic is straightforward: a rising burden on the state finances reduces the state's capacity to make investments in the future. The government then must function within its fiscal capacity to make efficient decisions. The white paper...

GDP vs Growth