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Public Banks: Dressing up for the market
22 January, 2018, C.P. Chandrasekhar
The government’s ambitious plan to recapitalise public sector banks that have recorded losses with resources from the Budget is an attempt to dress them up before taking them to the market.
Budget 2017-18: The Macroeconomic Perspective
03 March, 2017, C.P. Chandrasekhar
One reason why the government chose fiscal consolidation instead of an expansionary budget in the wake of demonetisation is its erroneous belief that demonetisation in itself would deliver fiscal benefits.
Lost Between Intent and Belief
03 March, 2015, Jayati Ghosh
The budget session is being undermined by the Finance Minister as hypothetical revenue figures make the allocation figures redundant under fiscal conservatism.
Capitalism and Hunger
20 January, 2012, C.P. Chandrasekhar
After close to 65 years of independent national development, the level of child malnutrition in India remains unacceptably high. The capitalist growth of the worst variety fostered by neoliberalism and the consequent refusal of the government to directly address the problem explains the cause for this “national shame”.
Addressing Social Concerns
10 March, 2008, Jayati Ghosh
The main issues in this year's economic strategy of the government, especially the intentions as signalled in this year's Budget proposals remain the same as that of 2004. These are employment, the agrarian crisis, nutrition and food security, education, health and social security. In each of these areas, the UPA government promised much. However, the delivery has not only been far below the promises, but in some cases even worse than the previous government.
Budget 2005-06: Stage-managed Humaneness
15 March, 2005, C.P. Chandrasekhar & Jayati Ghosh
Spokespersons for the UPA government have repeatedly declared that it intends to accelerate the economic reform process the Congress had originally initiated, even while giving it a human face. However, while imparting a ''human face'' to reform requires substantial additional allocations, the reform erodes the revenue base of the government
The Union Budget 2004-05 and employment
06 August, 2004, Jayati Ghosh
Much was expected of the new government's budget. It is after all the first really serious policy statement of the new government, since the National Common Minimum Programme (NCMP) is more a wish-list of proposed policies and programmes.
Budget 2004-05: The Fall-out of Fiscal Conservatism
12 July, 2004, C.P. Chandrasekhar & Jayati Ghosh
A striking feature of Budget 2004-05 has not been noticed and commented upon in the innumerable disquisitions on the subject. This is the fact that the estimates provided in Budget 2004-05 imply that the ratio of total central budgetary expenditure to the GDP would fall by close to two percentage points from 17.23 per cent in 2003-04 to 15.30 per cent in 2004-05 (Chart 1). This 11 per cent decline in the fiscal stimulus (relative to GDP), brings the expenditure-GDP ratio to a six year low.

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