Sublime

and the Jamuna are effectively dead. India and China have also witnessed, in recent years, the large-scale depletion of groundwater aquifers, the loss of biodiversity, the destruction of forests, and the decimation of fish-stocks.

John Fullerton, a managing director at J.P. Morgan until 2002 and now a member of the Club of Rome and president of the Capital Institute, is one of the most active facilitators of the dialogue about how we might create a regenerative economy.

China’s communications, as well as the managing of its fragile environment – dependent on water, threatened by floods – required an unusual degree of bureaucratic liaison between centre, province and district.

e traditional mandate of the Finance Commission to allocate revenues across levels of government, but also to put in place and reinforce the structures, habits and building blocks to increase our adaptability as a nation, a Union of States, and a partner in a more sustainable global trajectory for human development.

The RBI’s report highlights three priorities for states:

1. Control Subsidies: States need to rethink their freebies and focus on sustainable spending.




2. Rationalize Expenditure: Invest more in future development rather than daily operations.




3. Improve Transparency: Standardized reporting and robust data systems are essential.