WELL before Budget 2010-11 was presented, inflation had emerged as the principal economic problem in the country. With food-price inflation running at close to 20 per cent, even the United Progressive Alliance (UPA) government at the Centre had been forced to recognise it as a problem that deserved as much attention as the objective of achieving a 9 or 10 per cent rate of growth, if not more. In fact,...
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Vision 2010: a dangerous myopia by Amiya Kumar Bagchi
The Central budget of 2010-11 is a further step in the realisation of a vision of India vibrant with the income, wealth, saving, education and the entrepreneurial energy of the top 5-10 per cent of the population and the rest of Indians, serving that minority and surviving as barely literate, malnourished multitude. With the accession of Rajiv Gandhi to power, a vision began to germinate. That vision was that of...
More »Prof. Prabhat Patnaik (JNU) interviewed by Pragya Singh
The economist and political commentator who was appointed to a four-member team of the UN to recommend reforms to the global financial system critiques Budget 2010 Economist and political commentator Prabhat Patnaik, currently vice-chair of the Kerala Planning Board, is a strong critic of the government’s economic policies. In 2008, Patnaik, who has taught at JNU since the 1970s, was appointed to a four-member team of the UN to recommend...
More »The Allure Of Organic Manure by Bhavdeep Kang
IN GREEN-LIGHTING the new “nutrient- based” fertiliser policy, Finance Minister Pranab Mukherjee pulled off a political coup, overriding the objections of the once-powerful UPA allies, DMK and NCP. What’s more, it is those very critics who will be responsible for the actual delivery of benefits to farmers under the new scheme — which is a tall order. With Mamata Banerjee’s TMC putting in only a token caveat, the reservations of Union...
More »And yet another pro-farmer budget by P Sainath
This is a budget crafted for, and perhaps by, the corporate farmer and agribusiness. The real heroes of India's success story were our farmers. Through their hard work, they ensured “food security” for the country.— Pranab Mukherjee, interim budget speech Feb. 16, 2009 This Budget belongs to 'Aam Aadmi'. It belongs to the farmer, the agriculturist, the entrepreneur and the investor. — Pranab Mukherjee, budget speech, Feb. 26, 2010 Gee! Another pro-farmer budget....
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