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The 2018-19 Union Budget
03 February, 2018, Prabhat Patnaik
The strategy of the current budget seems to be simple: make immense noise about “helping the victimized” but do not give an extra paisa from the budget towards that ends. With the expenditure squeeze being carried out to reduce fiscal deficit, the share of central government spending in GDP is in fact budgeted to fall.
Where's the money, Mr Jaitley?
02 February, 2018, Jayati Ghosh
Window-dressing as a substitute to actually addressing the problem has become a norm under the Modi regime and the Budget 2018-19 reflects that. The actual increases in financial outlay are shockingly low in relation to the massive promises made. This is deeply worrying, as the Indian economy now desperately requires major measures to ensure a sustainable revival of economic activity.
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 2005-06: Marking Time
07 March, 2005, Prabhat Patnaik
The rhetoric of the 2005-06 budget certainly shows a welcome change from earlier. Previous budget speeches had been pre-occupied with showing the need for neo-liberal reforms and how the particular budget being presented was carrying forward that process.
Disinvestment, at What Price
28 December, 1999,
Through the 1990s, consecutive governments at the Centre have advocated the sale of public sector equity as a means of public sector 'reform'. Equity sale, the industry policy statement of July 1991 argued, was a means of ensuring financial discipline and improving performance. The fact that there is little theoretical justification for or empirical validation of this position has of course been ignored. The immediate reason is fiscal convenience.

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