Fueling growth
Everyone is talking about the Pay Commission's report. And I too will gradually join the conversation. To start, I wish to discuss the Commission's recommendation to increase fuel taxes. Everyone would remember 2013. The country was experiencing an economic crisis. In its efforts to address the critical shortage of Indian rupees, the central bank imposed a series of policies including restricting the supply of rupees; rationing rupees to Bhutanese traveling to India for business, studies, medical treatment or pilgrimage; closing bank accounts of Indian citizens; and suspending loans in several sectors. These policies did little to solve the rupee…