There is a common misconception that while the immediate aftermath of political decolonisation was marked by attempts by metropolitan powers to retain control over the resources of the erstwhile colonies, for which they used all kinds of instruments from coups…
Much has been written about the immense increase in economic inequality that has occurred of late and various startling figures have been provided by bodies like Oxfam, which has just come out with a report titled Inequality Kills. This shows…
It is obvious that the Covid-19 pandemic has had a deep, searing impact on the Indian economy, in terms of both total economic activity and livelihoods. It is true that the economy had been struggling for several years before then,…
Denials and rejections of the most pressing issue in the Indian economy today – which is providing employment as minimum livelihood options for the majority – need to be underscored in the current budget. Added to the above are the…
Capitalist governments invariably seek to control inflation by enlarging unemployment. This has nothing to do with any belief in a stable “trade-off” between the two, namely in a stable curve that links the two. Even those who attribute inflation to…
Denials and rejections, of the most pressing issue in the Indian economy today which is providing employment as minimum livelihood options for the majority, needs to be underscored in the current budget. Added to above are the woes related to…
In her budget speech 2022, the finance minister claimed that the centre pieces of the budgets for both the current financial year (2021-22) and the next (2022-23) are sharp increases in capital expenditure driven by enhanced public investment. That expenditure…
No budget in recent memory has been presented at a time when the economy is in such dire straits: unemployment is so bad that there are job riots in Bihar and UP; wealth and income inequalities are among the worst…
The Indian economy is currently caught in a vicious spiral of inflation, stagnation, and a widening of the fiscal deficit. And this spiral is set to become even more vicious because inter alia of developments in the world economy. Even…
India is an outlier in terms of low government spending during the pandemic, as we noted last month in an earlier article. Unlike advanced economies and even most developing and emerging market economies, the Indian government did not ramp up…
