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...

Ranchi: It was a budget aimed at sweetening the bitter price rise pill. From cutting down VAT on diesel, sweets and ice- cream to making foodgrains available at Re 1 per kg for the poor, deputy chief minister Raghubar Das today presented an annual budget which focused on rural development, food security and social welfare. Chanting the “inclusive growth” mantra, Das, the BJP face in the Shibu Soren government, showed...

Much of the daylight robbery in the name of Commonwealth Games has been justified in the name of "National Prestige" and "World class aspirations. Whether all these surreptitious measures will eventually deliver the games is an open question? The Commonwealth is a 'friendly' association of those 72 colonies which were once part of the British Empire and rose to free nationhood - some through protracted struggle and others through negotiation. In...

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....

The Central Statistical Organisation estimate of overall GDP being likely to grow at 7.2 per cent this year has brought back the confidence of the industry and policymakers that the economy has truly turned the corner. But the growth of the farm sector is almost flat (-0.2 per cent), though this too is a pleasant surprise given that it was exposed to the worst drought since 1972. The real worry...