July 28, 2022
the India Exp.
In a recent address, the prime minister shared his anguish on what he called the “revdi” or the freebies culture. This comes immediately on the back of widespread concerns among domain economists, including a recent report of the RBI on states’ finances. The report highlighted the perilous condition of states’ finances and enhanced debt stress on account of these flawed policies. Earlier, speaking at the annual day lecture of the Delhi School of Economics on April 19, I had mentioned that these freebies are “something that is given to you without having to pay for them, especially as a way of attracting your support for or interest in something.” Is it ironic that much earlier, Albert Einstein had said, “sometimes one pays most for the things one gets for nothing.” What Einstein said is embedded with deeper meaning.... Read More