Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 73,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'catslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 73,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'catslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 74,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'artileslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 74,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'artileslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-trace').style.display = (document.getElementById('cakeErr67f61f1fdc726-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f61f1fdc726-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-code').style.display = (document.getElementById('cakeErr67f61f1fdc726-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-context').style.display = (document.getElementById('cakeErr67f61f1fdc726-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f61f1fdc726-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f61f1fdc726-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 39386,
		&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4687518,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 39386,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 39386,
	&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4687518,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 39386
$metaTitle = &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;
$metaKeywords = &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;
$metaDesc = &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu | Im4change.org</title>
    <meta name="description" content="
-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$maxBufferLength = (int) 8192
$file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php'
$line = (int) 853
$message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Code Context
            $response->getStatusCode(),

            ($reasonPhrase ? ' ' . $reasonPhrase : '')

        ));
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-trace').style.display = (document.getElementById('cakeErr67f61f1fdc726-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f61f1fdc726-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-code').style.display = (document.getElementById('cakeErr67f61f1fdc726-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-context').style.display = (document.getElementById('cakeErr67f61f1fdc726-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f61f1fdc726-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f61f1fdc726-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 39386,
		&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4687518,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 39386,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 39386,
	&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4687518,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 39386
$metaTitle = &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;
$metaKeywords = &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;
$metaDesc = &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu | Im4change.org</title>
    <meta name="description" content="
-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$reasonPhrase = 'OK'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Code Context
                    $value

                ), $first);

                $first = false;
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-trace').style.display = (document.getElementById('cakeErr67f61f1fdc726-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f61f1fdc726-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-code').style.display = (document.getElementById('cakeErr67f61f1fdc726-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f61f1fdc726-context').style.display = (document.getElementById('cakeErr67f61f1fdc726-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f61f1fdc726-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67f61f1fdc726-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 39386,
		&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
		&#039;subheading&#039; =&gt; &#039;&#039;,
		&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
		&#039;meta_title&#039; =&gt; null,
		&#039;meta_keywords&#039; =&gt; null,
		&#039;meta_description&#039; =&gt; null,
		&#039;noindex&#039; =&gt; (int) 0,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; (int) 4687518,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 39386,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;,
	&#039;metaDesc&#039; =&gt; &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 39386,
	&#039;title&#039; =&gt; &#039;Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;
-TheWire.in&lt;br /&gt;
&lt;em&gt;&lt;br /&gt;
While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;
&lt;br /&gt;
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;
&lt;br /&gt;
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;
&lt;br /&gt;
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;
&lt;br /&gt;
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;
&lt;br /&gt;
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518&#039;,
	&#039;meta_title&#039; =&gt; null,
	&#039;meta_keywords&#039; =&gt; null,
	&#039;meta_description&#039; =&gt; null,
	&#039;noindex&#039; =&gt; (int) 0,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; (int) 4687518,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 39386
$metaTitle = &#039;LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu&#039;
$metaKeywords = &#039;Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs&#039;
$metaDesc = &#039;
-TheWire.in

While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-TheWire.in&lt;br /&gt;&lt;em&gt;&lt;br /&gt;While Nirmala Sitharaman&#039;s maiden budget hit all the right political notes, its fiscal math is far fuzzier.&lt;/em&gt;&lt;br /&gt;&lt;br /&gt;The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &amp;lsquo;New India&amp;rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. &lt;br /&gt;&lt;br /&gt;Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&amp;rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&amp;rsquo;s own manufacturing and agriculture output trending downward for some time. &lt;br /&gt;&lt;br /&gt;The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&amp;rsquo;s balance sheet as &amp;ldquo;surpluses&amp;rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. &lt;br /&gt;&lt;br /&gt;Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&amp;rsquo;s justification for partially dollar-ising India&amp;rsquo;s fiscal deficit is that the country&amp;rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. &lt;br /&gt;&lt;br /&gt;In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.&lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot; title=&quot;https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;/div&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu | Im4change.org</title>
    <meta name="description" content="
-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$cookies = []
$values = [
	(int) 0 => 'text/html; charset=UTF-8'
]
$name = 'Content-Type'
$first = true
$value = 'text/html; charset=UTF-8'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

<head>

    <link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>

    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>

$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
	'article_current' => object(App\Model\Entity\Article) {

		'id' => (int) 39386,
		'title' => 'Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu',
		'subheading' => '',
		'description' => '<div align="justify">
-TheWire.in<br />
<em><br />
While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br />
<br />
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br />
<br />
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br />
<br />
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br />
<br />
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br />
<br />
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br />
<br />
Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br />
</div>',
		'credit_writer' => 'TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth',
		'article_img' => '',
		'article_img_thumb' => '',
		'status' => (int) 1,
		'show_on_home' => (int) 1,
		'lang' => 'EN',
		'category_id' => (int) 16,
		'tag_keyword' => '',
		'seo_url' => 'budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518',
		'meta_title' => null,
		'meta_keywords' => null,
		'meta_description' => null,
		'noindex' => (int) 0,
		'publish_date' => object(Cake\I18n\FrozenDate) {},
		'most_visit_section_id' => null,
		'article_big_img' => null,
		'liveid' => (int) 4687518,
		'created' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'edate' => '',
		'tags' => [
			[maximum depth reached]
		],
		'category' => object(App\Model\Entity\Category) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[hasErrors]' => false,
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'Articles'
	
	},
	'articleid' => (int) 39386,
	'metaTitle' => 'LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu',
	'metaKeywords' => 'Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs',
	'metaDesc' => '
-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does...',
	'disp' => '<div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>',
	'lang' => 'English',
	'SITE_URL' => 'https://im4change.in/',
	'site_title' => 'im4change',
	'adminprix' => 'admin'
]
$article_current = object(App\Model\Entity\Article) {

	'id' => (int) 39386,
	'title' => 'Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu',
	'subheading' => '',
	'description' => '<div align="justify">
-TheWire.in<br />
<em><br />
While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br />
<br />
The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br />
<br />
Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br />
<br />
The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br />
<br />
Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br />
<br />
In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br />
<br />
Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br />
</div>',
	'credit_writer' => 'TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth',
	'article_img' => '',
	'article_img_thumb' => '',
	'status' => (int) 1,
	'show_on_home' => (int) 1,
	'lang' => 'EN',
	'category_id' => (int) 16,
	'tag_keyword' => '',
	'seo_url' => 'budget-2019-sorely-lacks-a-coherent-vision-for-long-term-growth-mk-venu-4687518',
	'meta_title' => null,
	'meta_keywords' => null,
	'meta_description' => null,
	'noindex' => (int) 0,
	'publish_date' => object(Cake\I18n\FrozenDate) {},
	'most_visit_section_id' => null,
	'article_big_img' => null,
	'liveid' => (int) 4687518,
	'created' => object(Cake\I18n\FrozenTime) {},
	'modified' => object(Cake\I18n\FrozenTime) {},
	'edate' => '',
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {},
		(int) 4 => object(Cake\ORM\Entity) {}
	],
	'category' => object(App\Model\Entity\Category) {},
	'[new]' => false,
	'[accessible]' => [
		'*' => true,
		'id' => false
	],
	'[dirty]' => [],
	'[original]' => [],
	'[virtual]' => [],
	'[hasErrors]' => false,
	'[errors]' => [],
	'[invalid]' => [],
	'[repository]' => 'Articles'

}
$articleid = (int) 39386
$metaTitle = 'LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu'
$metaKeywords = 'Non-Performing Assets,Union Budget,Economic Growth,GDP growth,NPAs'
$metaDesc = '
-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does...'
$disp = '<div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>'
$lang = 'English'
$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
$adminprix = 'admin'

include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51

Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu

-TheWire.in While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier. The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in ‘New India’, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi’s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India’s own manufacturing and agriculture output trending downward for some time. The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI’s balance sheet as “surpluses”. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister’s justification for partially dollar-ising India’s fiscal deficit is that the country’s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets. Please click here to read more.