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Empty Promises
18 July, 2018, C.P. Chandrasekhar
Together with measures like loan write-offs offered by some BJP States and an ostensibly much-improved crop insurance scheme (PMFBY), this hike in MSPs is seen to have confirmed the pro-farmer tilt of the Narendra Modi government. The timing of the Modi government’s MSP hike for kharif crops leads to the question of whether it is backed by the financial allocations needed to deliver on them.
The return of the oil threat
11 May, 2018, C.P. Chandrasekhar
As oil-producing countries, especially Saudi Arabia and Russia, stick to their reduced outputs and as Trump threatens to isolate Iran with sanctions once again, the spectre of high oil prices and the accompanying inflation seem very real.
Budget 2018-19: No money where the mouth is
20 February, 2018, C.P. Chandrasekhar
Rhetoric and meagre show of financing aimed at the neglected and marginalized sections, to address the pre-election imperative of the Budget have not even been able to fulfil the irrational fiscal deficit targets of the FM, even with massive disinvestment and absence of fund allocation.
Window Dressing Budgetary Figures
31 January, 2018, C.P. Chandrasekhar
Budget 2018-19 will feature a window dressed Revised Estimate to ensure that the fiscal deficit is on target. The government’s decision to sell its stake in HPCL to ONGC is only one more step in that direction.
Budget 2017-18: Blinded by neoliberalism
27 February, 2017, C.P. Chandrasekhar
All that this government has is its unfounded belief that mere reform in the form of the demonetisation, digitalisation and the GST would deliver growth rather than recession.
The Budget after Demonetisation
21 December, 2016, C.P. Chandrasekhar
If the government adheres to its deficit targets, this could imply a substantial cut in capital expenditures or social expenditures or both which would worsen the contraction set off by demonetisation.
The Economy: The end of euphoria
27 May, 2015, C.P. Chandrasekhar
Despite having a good fortune of lower international oil prices, the Modi government failed to deliver growth in its first year while the expectations are still very high.
An Obsession to Sell
30 October, 2014, C.P. Chandrasekhar
The NDA government’s strategy of accelerating the process of privatisation is fiscally irrational and unsustainable that will adversely affect the workers in the public sector.
The Corruption System
29 May, 2013, C.P. Chandrasekhar
The greater corruption witnessed under liberalisation reflects an aggravation of the systemic tendency towards primitive accumulation of capital characteristic of capitalism.
Bad Economics, But Worse Politics
06 March, 2013, C.P. Chandrasekhar
There is nothing in the budget to reverse the stagflation, even as the opportunity to take effective measures aimed at showing concern for the common man has been missed too.
Polishing the Nation's Silver
03 January, 2013, C.P. Chandrasekhar
Avoiding taxation route and relying more on non-debt capital receipts has led to the failure of the government on the fiscal front in terms of its deficit reduction target.
Budget 2012: The price of reform
28 March, 2012, C.P. Chandrasekhar
By hiking indirect taxes that would be passed through to buyers, and slashing subsidies that would raise the prices of petroleum products and fertilisers, the Finance Minister has exposed a nation already reeling under the effects of a prolonged price rise to another bout of cost push inflation.
An Inequitable Path: The ritualistic exercise in fiscal management
23 March, 2012, Amiya Kumar Bagchi
Ignoring all the evidences of the fact that growth does not trickle down, the Budget 2012-13 has emphasised the target of raising the rate of growth at any cost without bothering about the majority of Indian population. Instead what was needed for managing the economy was a progressive system of taxation, employment creation and universalisation of the public distribution of food grains.
Corruption in the Age of Liberalisation
03 December, 2010, C.P. Chandrasekhar
The instances to which such allegations relate are many, varying from the sale of 2G spectrum and the mobilisation and/or disposal of land and mining resources, to purchases made as part of large and concentrated public expenditures
Ignoring Asset Price Inflation
22 September, 2010, C.P. Chandrasekhar & Jayati Ghosh
The recent action taken by the Reserve Bank of India to hike repo and reverse repo rates has been interpreted as a shift in focus to inflation control resulting from a combination of comfortable growth figures and disconcerting increases in the prices of goods, especially food articles.
The Spectre of Public Debt
21 June, 2010, C.P. Chandrasekhar
The sovereign debt crisis of Greece has led to appeals for a reduction in the size of public debt in countries worldwide. Given that increasing taxes and reducing expenditures may not be considered viable options, there would soon be strident calls for disinvestment and privatisation aimed at generating the resources needed for this.
Money Illusion
17 June, 2010, C.P. Chandrasekhar
The perception created by the spectrum auction that there is much money in government coffers to pursue a social agenda is an illusion for two reasons. First, whatever money appears to be at hand is not available in the long term. Second, the new receipts from the private sector that create this illusion could be substantially matched by reduced government receipts in other areas or reverse flows to the private sector.
India: A Setback for Neo-Liberalism
10 June, 2010, Prabhat Patnaik
The current developments in India mark the beginning of a process of the polarization of society into two camps, a pro-imperialist camp supported by the Fund, the Bank, globalized finance and the MNCs, and an anti-imperialist camp led by the Left but encompassing diverse elements. The degree to which consolidation of the latter camp can be successfully accomplished depends crucially on the ability of the Left to overcome sectarianism and narrowness of outlook and unite the widest possible segments of anti-imperialist social forces.
The Danger of a Double Dip
29 January, 2010, C.P. Chandrasekhar
In the current circumstances, dealing with inflation by tightening monetary policy and exiting from the fiscal stimulus may not be a good idea if the government does not increase its outlays in areas other than wages and salaries in the next fiscal.
Wasted Largesse
28 July, 2009, C.P. Chandrasekhar
If the Sensex is an indicator of corporate sentiment, even if not of corporate performance, then Union Budget 2009-10 has received the thumbs down from the corporate sector. The Sensex fell by 870 points (or 5.8 per cent) on budget day, rose marginally the day after, only to fall by a further 400 points on the subsequent day.

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