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Divestment goal achievable; LIC IPO to fetch ₹1 lakh crore: CEA

-PTI/ The Hindu Inflation targeting helped in lowering volatility, level of inflation, he says Asserting that the disinvestment target of ₹1.75 lakh crore for 2021-22 was ‘eminently achievable,’ Chief Economic Adviser (CEA) K. V. Subramanian on Saturday said the proposed initial public offering (IPO) by LIC itself could garner ₹1 lakh crore for the government. He also said targeting of retail inflation by the Reserve Bank of India (RBI) has helped bring down...

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Why privatising public assets is poor economics, impetus to greater wealth inequality -Prabhat Patnaik

-The Indian Express The only difference between a fiscal deficit and selling public assets lies in the nature of the government paper that is handed to the private sector, but the macroeconomic consequences of a fiscal deficit on the economy are no different from those of selling public assets. The government has adduced no reasons for the proposed privatisation of several public sector assets other than to generate resources for its spending....

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The Peasants Movement Constitutes a Major Crisis for Corporate Capital -SP Shukla

-TheCitizen.in The corporate capital has launched a final assault in its desparate bid to extricate itself from the worst crisis it has encountered. Having swallowed industry, trade and finance, it has now turned its greedy eyes on land and peasantry, along with peoples’ assets in the public sector including public infrastructure and services in health, education and social welfare. Most importantly, it has its gaze fixed on fertile tropical and subtropical land and...

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Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates

Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...

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The bad news from state budgets -Ishan Bakshi

-The Indian Express States have spent less in this year, may focus on fiscal consolidation in the year to come. This belies hopes of a public-spending-led recovery. Over the past few weeks, several state governments have presented their budgets for the financial year 2021-22. These budgets shed light not only on how state finances have fared during the current year (2020-21) but equally critically, detail the expenditure stance of these governments during...

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