Some superb graphs courtesy this post by John Samuel Raja on the perilous state of India’s finances, following the excerpts:
What makes it worse for the government is the inelasticity on both the revenue and expenditure sides, which limits its options.
…The government is living way beyond its means. As much as Rs137.6 of this Rs157.6 is going towards meeting running expenses, as opposed to creating assets that deliver benefits in later years. And just five items—interest payments, defence spending, subsidies, salaries and pensions—account for Rs110.
…The biggest outgo on the expenditure side, …