-The Hindu ‘Allocation to job-intensive sectors cut’ “Every single number in the Budget is a lie,” Jayati Ghosh, Professor of Economics at Jawaharlal Nehru University (JNU), said in Mumbai on Sunday of the Union Budget. India’s current slowdown is worse than that of 1991 and 2008, and the Budget has cut allocations to all employment-intensive sectors, further adding to the mess, said Ms. Ghosh, one of the world’s leading development economists. “All the...

-The Hindu Concerned over time and quantum of funds to be devolved over the years Even after the Centre accepting the Union Finance Commission’s revenue deficit grant award of Rs. 74,000 crore, the State government is concerned over the time and quantum of funds to be devolved over the years. The concern is largely based on the Centre’s practice of slashing the grant progressively in the previous years. Citing financial constraints, if the...

-The Hindu The economic outlook rests on government meeting investment targets and keeping promises made to stakeholders There were many expectations from the Union Budget 2020: that it would reverse the falling growth rate, reduce unemployment and rekindle the animal spirits needed to revive private investment. Does the Budget really hold out the promise on these counts? To answer the question, the Budget can be judged in terms of its effect...

-The Hindu Low allocations and specific policy statements point to greater privatisation and withdrawal of the state Finance Minister Nirmala Sitharaman began her speech by saying that the Union Budget was “woven around three prominent themes” — aspirational India, economic development for all and building a caring society. Achieving any of these would require extraordinary efforts on the social sector front starting with allocating additional resources for health, education, nutrition, employment...

  The Union Budget 2020-21, which was presented by the Finance Minister Smt. Nirmala Sitharaman on 1st February, 2020 has failed to impress civil society activists and farmers' rights groups (click here  and here). Through their press releases and notes, members of CSOs were demanding as well as suggesting the Union Government for hiking the budgetary allocation for schemes like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and Pradhan Mantri...