Miscellaneous
In this episode, Som and Uday delve deeper into the budget - not the 'bahi-khata', but its contents. Uday tries to explain why lowering the fiscal deficit target in a slowing economy is seldom a good move, but with states spending massively and the large off-budget spending, the meaning of the fiscal deficit itself is diluted. Over at the RBI - an institution which is supposed to regulate the lifeblood of the economy, the Banks and NBFCs, we lose another capable (deputy) governor. Monocle isn't a name which instantly springs to mind when you talk about travel, leisure or even civic activism - but Som tells us why creating a space for conversations and reverting to print are just two reasons we should respect the various forums Monocle operates. And yes, he thinks it is one of the most important companies in the world today.