Value Based Question
in the last few years, the Union Government of India has been asserting its powers vehemently whether
it is reducing the subjects in State List, or increasing subjects in Concurrent List, or bringing economic
reforms like demonetisation, GST, etc.
1. Identify the reasons for the Central Government to be more powerful in a country like India.
2.
'Is the Central Government going against the principles of federalism?' Express your opinion.
Answers
Explanation:
India's economic growth held back due to note ban, GST: Raghuram Rajan
BCCL
"India can't work from the centre. India works when you have many people taking up the burden. And today the central government is excessively centralised," Raghuram Rajan said.
Synopsis
With the oil prices going up, Rajan said things are going to be little tougher for the economy.
By PTILast Updated: Nov 10, 2018, 09:28 PM IST188
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India's economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the current seven per cent growth rate is not enough to meet the country's needs.
Addressing an audience at the University of California in Berkley on Friday, Rajan said for four years -- 2012 to 2016 -- India was growing at a faster pace before it was hit by two major headwinds.
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"The two successive shocks of demonetisation and the GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking up," he said delivering the second Bhattacharya Lectureship on the Future of India.
Rajan said a growth rate of seven per cent per year for 25 years is "very very strong" growth, but in some sense this has become the new Hindu rate of growth, which earlier used to be three-and-a-half per cent, Rajan said.