The budget figures these days mean very little. The difference between what the budget provides and what actually happens does not come to light even after a time- lag of two years, while earlier two years were the limit. And…
The budget placed in the Indian Parliament on 1st February fails to send out a long due message to the stagnating Indian economy. This is by failing to announce policies for a possible recovery of aggregate employment and output in…
India’s economy may be heading to recession, but India’s leading business group Reliance Industries Limited (RIL), controlled by Asia’s richest man Mukesh Ambani, appears to be holding out well. Though revenues of the group in the last quarter of 2019…
Marxism teaches us that every totality is composed of elements which are different and hence among whom there are contradictions. Even when the totality is conceptualized as a totality, there must be an implicit awareness of these contradictions. This injunction…
Budget 2020, presented by India’s finance minister Nirmala Sitharaman on Feb. 1, turned out to be worse than a damp squib. It was such a disappointment that its impact on an already weak economy now facing global headwinds, may verge on the…
Though Finance Minister Nirmala Sitharaman laboured for well over 2 hours when delivering her budget speech, it is likely that the aspect of the speech that will receive popular attention would be the restructuring of income tax slabs and reduction…
It’s finally time to call the bluff: the Union budget has become a completely meaningless — even misleading —exercise. Those of us who take either the pronouncements or the numbers mentioned on expected revenues and projected spending in the budget…
Besides its length, Finance Minister Nirmala Sitharaman’s speech presenting the Budget for 2020-21 was notable for a number reasons. It did not discuss the likely shortfall in revenue collection relative to targets during financial year 2019-20 and what that implies…
In the search for resources to make up for sluggish tax revenue growth, one source to which the Finance Minister rising to present Budget 20201 can legitimately turn is the Reserve Bank of India (RBI). But the government’s draft on…
Here’s what we do know: the Indian economy is in a deep funk, in a downward spiral of falling employment, consumption, and investment, and rapidly decelerating GDP growth. The problem, evident for several years now, has been created by a…
