The reforms initiated by President Enrique Pena Nieto may have started a new era of economic and social transformation in Mexico. The reforms, and the manner in which four major political parties of the country committed consensual support to vital policies, can be an inspiration for democracies across the world
The government, knowing well what the markets wanted, ensured that there were no surprises for the 2013-14 budget by forecasting a fiscal deficit of 4.8%. A closer look at the math, however, reveals a different story.
India’s tumultuous politics, weakened capital market, retroactive tax laws, uncertain growth rate, and bleak investment climate are adding up to India’s gloom. We need strong leadership and bold reforms to strengthen our economy.
While the U.S. political leadership is stuck with extreme positions led by the Tea Party, India’s politicians do not seem to have a position at all. It is imperative for India’s political leadership to exercise prudent fiscal leadership to ensure that economic growth is balanced and equitable.