State Governments and Financial mess

The self defeating indifference to the legal obligations under ' Fiscal Responsibility and Budget management Act ' accompanied by long standing policy bottlenecks and preponderance of political politics over development politics have taken more than one states towards the financial imbroglio.Financial administration in the context of any government holds so much of 'unificatory' and 'instrumental' value that any sort of complacency,imprudence and indiscipline in this regard directly undermines the efficacy of governance in all imaginable spheres of life.The governments at all levels, struggling to reconcile the political realism to the idealism, have made abortive attempts to make facts fit their narrow political desires which has resulted into burgeoning fiscal and revenue deficits.The adverse implications of growing indebtedness of the state has to be understood beyond the narrow confines of Mr. Dasgupta's jurisdiction as a part of the political culture which is making achievement of 'macro economic' stability a hurculean task. Can Indian economy ever be in pink of health with dwindling fortunes of more than one states? Given the intellectual credentials of Mr.Asim and harsh realities of increasingly competitive world we expect some more substantive policy measures than mere cosmetic manipulations with one or other taxes to sustain a development centric economy.The government needs to reflect strong political willingness to take decisions guided more by the facts and realities of 21st century rather than inconducive and value centric ideas of 70's.We are yet to strike right kind of balance between politics and economics.