-TheWire.in The Economic Survey 2016-17 devotes a chapter to the provision of a Universal Basic Income (UBI), describing it as a “raging new idea,” a “radical new vision” and “the shortest path to eliminating poverty”. While warning that the UBI “should not become the Trojan horse that usurps the fiscal space for a well-functioning state,” the survey says a de facto UBI can be instituted in the existing “fiscal space”. It...
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Again, Centre puts on hold decision on bringing parity in MGNREGA, minimum wages -Jitendra
-Down to Earth Finance Ministry has said that such parity is not possible as it would involve an additional burden of around Rs 10,000 crore on the exchequer The Union Ministry of Rural Development (MoRD) puts on hold the consideration of bringing parity of MGNREGS wage with minimum wages of states as its proposal has not got an in-principle approval from the Finance Ministry. According to the MoRD, the finance ministry has...
More »Focusing on domestic growth -Krishnamurthy Subramanian
-Livemint.com One of the key trends underlying huge concentration of wealth and incomes is the increasing return to capital versus labour Given the demonetisation undertaken by the government in November 2016, the current budget was presented at a historic moment in the Indian economy. To understand the government’s emphasis on the rural economy, we have to understand a key narrative that must influence economic policies in democratic countries. As several governments in developed...
More »Balancing act in Budget 2017 is a curse for the poor -Yogendra Yadav
-Firstpost.com It was a replay of last year. Finance Minister Arun Jaitley read out his budget speech, paying special attention to agriculture and rural areas. He highlighted a few figures. The media caught on to his words and figures and declared the budget to be pro-farmer, pro-rural and pro-poor. We analysed the FM speech in our KisanSansad, held this year at Jantar Mantar, to coincide with the budget presentation. We were disappointed...
More »Union Budget 2017-18: Urgent Need for an Improved Farm Debt Waiver Scheme -Ishan Anand
-TheWire.in Despite all the talk of a big push to the agricultural sector, the last Union Budget turned out to be a missed opportunity to provide genuine relief to farmers. The government must rectify this. The finance minister will be presenting the Union Budget 2017-18 at a time when the agrarian economy is in deep crisis. The farmers of the country have been suffering from a longstanding neglect of the sector, which...
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