Summaries by Srinath Sridharan, Arjun Raghavendra M.

Indian states, having surrendered taxing powers for GST, now face fiscal vulnerability as compensation guarantees ended, and non-shareable cesses reduce their revenues. The text argues that expanding GST to include petroleum and alcohol without renewing the federal bargain would further erode state fiscal agency. It proposes a new compact with a state revenue-floor mechanism, a statutory ceiling on non-shareable levies, and reconsidered borrowing autonomy. The completion of GST’s tax map must await a renewed federal bargain to ensure states retain fiscal capacity and accountability, fostering balanced federalism.

India's diplomacy requires greater diversity beyond the IFS. Converging global dynamics in politics, capital, technology, security, and trade necessitate envoys with deep political conviction, specific domain expertise (e.g., finance, tech, defence), and practical world experience. While the IFS provides an essential backbone, India should strategically deploy political appointees and specialists throughout its missions. This inclusive approach, from ambassadors to counsellors, will maximize national advantage, ensure measurable diplomatic returns, and adapt statecraft to contemporary global engagements by leveraging tailored expertise.