Experts have warned that populist promises, such as cash and travel subsidies, promised by political parties in the lead up to elections in India, could harm long-term growth prospects. C Rangarajan, former RBI governor, suggested enforcing strict fiscal-deficit limits to limit freebies. Former chairman of the National Statistical Commission, Pronab Sen, called for action by the Election Commission against such promises. Meanwhile, M Govinda Rao, a member of the 14th Finance Commission, said that parties focus on short-term rather than long-term benefits.from Economy-News-Economic Times https://ift.tt/lQFSf23
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