The government's decision to withhold subsidies, threats of retrospective penalties on close to a dozen “erring” companies have also exposed the fault lines of overestimating India’s true manufacturing prowess while simultaneously giving out a warning signal to all private players who have been relying on various ongoing subsidy schemes that one may receive funds only to be asked to give it back by those very risk averse bureaucrats who had handed over the cheques to them in the first place.
