The Comptroller and Auditor General (CAG) of India has been an old edifice of the Indian governance system — it performs the crucial task of auditing the money spent by the government on various projects and schemes.
Though the prospects of falling off the fiscal cliff in the US sends chills up everyone’s collective spine, the likelihood of a deepening eurozone crisis seems a lot more probable, though it has to be said eurozone leaders have upped their act over the past six months.
WilL 2012 be regarded as a turning point in India’s movement for Universal Health Coverage (UHC)? Will 2013 become the launch pad for several new initiatives that will make a major difference to the health of the Indian people?
India Inc could be forgiven for wishing that the year 2012 never happened. Policy hurdles, delayed clearances to projects and costly funds were the hallmarks of a year that came to symbolise the term ‘policy paralysis’.
Corporate India is stressed. Not only are companies highly leveraged — because their revenues and profits are shrinking in a sluggish economy — their ability to service their borrowings is also falling.
The policymakers in India talk almost in one voice about the urgent need to further and augment the economic liberalisation process, though their focus seems to be on giving more leeway for financial-sector players than structurally improving the real economy.
Though the Planning Commission has done well to lower its annual GDP estimates for the 12th Plan to 8% from the 8.2% it was looking at in September and the 9% before that, as PM Manmohan Singh pointed out, even achieving this isn’t going to be that easy.