3 min read.Updated: 23 Sep 2019, 10:51 PM ISTBloomberg
Belt-tightening will hurt final demand more than any fillip from price cuts can help
India is making a second big fiscal gamble. The first, a switch from sales to consumption taxes, has failed to achieve revenue targets. The government, which two months ago was trying in desperation to tax everything that moved, has suddenly changed tack and is slashing levies on company profits.