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Fiscal Folly*
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Nov 22nd 2021, Prabhat Patnaik
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The
Modi government has been raising taxes on petro-products
to finance government spending; this has led to the
dual effect of not stimulating the economy, but the
inflation levels. If instead, the expenditure was financed
by a tax on the rich, it would have both stimulated
the economy and kept inflation levels down.
*
This article was originally published in People's
Democracy on November
21, 2021.
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