-The Indian Express By officially committing to inflation targeting through the signing of a monetary policy agreement between the finance ministry and the RBI, India has joined 28 other countries in explicitly fixing goals for annual increases in the consumer price index (CPI) and pinning responsibility on the central bank for achieving them. Interestingly, among the now 29 countries, India has the lowest per capita income. While there are as many as...
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Setting up national agriculture market, a clear warning for APMCs -Enamul Haque
-The Hindu Business Line Economic Survey says Parliament can pass laws to override States' powers to create such a thing The Budget has proposed the setting up of a national agriculture market. Agriculture in the country is a State subject and thus all the States have set up Agricultural Produce Marketing Committees (APMC) to regulate the marketing of agricultural commodities. Thus, APMCs have been considered an inhibiting factor for establishment of a national...
More »Nehruvian budget in the corporate age -Jean Drèze
-The Hindu The Budget overlooks the fact that human capabilities are as important as physical capital for economic growth and the quality of life. It goes back to the days when growth and development sounded synonymous, physical capital was thought to be the key, and human capital took a back seat Once upon a time, around the end of the Second World War, there was a naive view in development economics that...
More »The noise around the land acquisition law -Sreenivasan Jain
-Business Standard The debate over the land ordinance is best located in facts, not hyperbole Somewhat like the winter chill, the season of convenient mythologies continues to hold Delhi in its lingering grip. The latest manifestation is the spat over land acquisition, rendered additionally bewildering by the expedient of the Treasury and Opposition benches having swapped sides between the time the United Progressive Alliance (UPA)'s much derided land Act was passed...
More »Silence on the farm -Ashok Gulati
-The Indian Express The Union budget is largely about the intentions and policies of the government of the day, as well as the arithmetic of resource mobilisation and allocation to achieve certain ends in the economy. The diagnostics of various economic problems and their probable solutions are generally found in the Economic Survey. The Economic Survey clearly indicates that growth in agri-GDP in FY15 has collapsed to just 1.1 per cent, while...
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