-TheWire.in How did the onset of the pandemic affect already-struggling budget management, how did the second wave affect the measures taken in Budget 2021-22 and what should we look for in the upcoming Budget? The latest estimates suggest that India’s economic output in 2021-22 is likely to, once again, reach the level it was at in 2019-20. If this happens, the pandemic would have delayed India’s journey to prosperity by two years....
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Indian Economy is in a Vicious Spiral; Only Way Out is by Empowering Working People -Prabhat Patnaik
-Newsclick.in India needs a larger government expenditure on transfers to the working people. For such larger expenditure, resources have to be raised through greatly increased taxation of the rich- a reversal of the perverse fiscal strategy the government has pursued so far. The Indian economy is currently caught in a vicious spiral of inflation, stagnation and a widening of the fiscal deficit. And this spiral is set to become even more vicious...
More »Increasing MSMEs’ share in GDP to 40% by 2025 is a herculean task: AIMA
-Financial Express Ease of Doing Business for MSMEs: Former MSME Minister Nitin Gadkari in 2020 had set a target of increasing MSMEs’ share in exports to 60 per cent from 48 per cent and 5 crore additional jobs by 2025 apart from the jump in GDP share. Ease of Doing Business for MSMEs: Increasing MSMEs’ contribution to India’s gross domestic product (GDP) from nearly 30 per cent to 40 per cent by...
More »Look out for the FY22 revised estimates -Madan Sabnavis
-Financial Express This is of special interest as FY22 was challenging on several fronts, needing govt intervention Budget FY23 will, of course, be important for the content and its take on the economy, given the Union government has to necessarily take a call on how it thinks the third wave has affected the economy and accordingly make provisions in the Budget. But, also important will be the revised numbers for the different estimates...
More »See Sonar Bangla shine and leave behind India, Pakistan on economic & social indices -Mani Shankar Aiyar
-The Telegraph With a per capita income at a whopping $2554, poverty is down; exports are up and GDP is fueled by both agriculture and manufacturing; but the downside is a growing nexus between politics and business There is justifiable pride all around at Bangladesh’s remarkable performance in both the economic and social development dimensions. “Pakistan and India don’t matter. We have done better than both!” The figures speak for themselves. The renowned...
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