This presentation examines India’s fiscal landscape, highlighting the challenges posed by fiscal mismanagement, particularly in the context of the Old Pension Scheme (OPS). It analyses the fiscal health of both Union and State governments, emphasising issues such as revenue deficits, structural deficits, and increasing debt burdens. The presentation underscores the importance of sustainable fiscal policies and institutional reforms to maintain economic stability and growth, serving as a foundation for discussions on fiscal prudence.