What should Finance Minister Pranab Mukherjee be doing in Budget 2012, due on 16 March? Firstpost spoke to several of India's top economists, and all of them had fiscal consolidation and restoration of business confidence on top of their lists.
We can no longer count on luck. As Ajay Shah of the National Institute of Public Finance and Policy says, "The world economy is in bad shape. It could get worse. We have to create our own magic. And for this we need a top-quality policy effort from the ministry of finance."