Best of BS Opinion: Changing tracks, decluttering defence budget, and more

The finance ministry has set aside a major portion of its capital expenditure for FY24 for the Indian Railways, correctly seeking to correct the problem of under-investment that plagues the transport sector. But the real issue going forward is working on a plan to ensure that such capex is eventually financially sustainable, the top edit argues. Read it here

In other views:

Ajai Shukla explains why the defence budget, which has fallen to below 2% of GDP for the first time, is inadequate for a country that is seeking to snatch back territory from China.

Read it here

C K G Nair and M S Sahoo suggest ways to make the Insolvency and Bankruptcy Code more effective. Read it here

The second edit says Budget measures will improve financial markets. Read it here

QUOTE OF THE DAY

“This is potentially a bigger problem for Indian equities, which have done so well during the pandemic as China pursued its Covid Zero policy”

Peter Garnry at Saxo Bank A/S