Focus on rural and social infrastructure sector and decline in subsidy outgo have resulted in improvements in the fiscal front, both quantitatively and qualitatively. Over the recent past, steel prices have strengthened both, globally and domestically, especially after introduction of the Minimum Import Price.
Some analysts have argued that this unequal distribution of the “export benefits” – as opposed to what they define, wrongly in my opinion, as “import costs” – of expanding trade with China explains why it has been relatively more difficult for Europeans than for Americans to agree on whether China on the whole constitutes an economic “opportunity” or, rather, a “threat”.