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A tweet thread on #India's #Government #Finances
1. They are in a deep mess. The #Punjab #FinanceMinister came out of a #GSTCouncil meeting to suggest that the #UnionGovt may be close to a #SovereignDefault, because it is unable to p[ay out to the States's their share of GST.
1. They are in a deep mess. The #Punjab #FinanceMinister came out of a #GSTCouncil meeting to suggest that the #UnionGovt may be close to a #SovereignDefault, because it is unable to p[ay out to the States's their share of GST.
See this clip here:
That may be hyperbole. A sovereign default is when the Govt is so cash strapped that it is unable to service its debt. I'm not sure India is anywhere near that dire situation as yet.
But that does not mean that the Public finances are rosy. In fact they are dire in the extreme!
But that does not mean that the Public finances are rosy. In fact they are dire in the extreme!
