-TheWire.in The most important concern is that of increasing public spending. There are really only two numbers to look out for in the forthcoming budget: how much did the government claim to have spent in 2020-21, and how much does it intend to spend in 2021-22. These two numbers will determine whether there is any real hope of sustained macroeconomic recovery in the near future, notwithstanding any claims of green shoots or revival...
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Fixing software bugs in India’s economy -Arvind Subramanian and Josh Felman
-Livemint.com * Beyond the Budget, the key to reviving growth lies in improving economic stewardship. Here’s how * In the upcoming Union budget, measures must be urgently taken in order to address the protracted and worsening Twin Balance Sheet problem, including revitalizing the IBC. NEW DELHI: The upcoming Union budget is a critical one, for it offers an opportunity to reset the economy so that it can boom again in the coming years....
More »The fiscal situation will not stabilise in 2020-21 unless consumption improves -Soumya Kanti Ghosh and Tapas Parida
-The Indian Express The Union budget should focus on enhancing credit flows to the small and marginal farmers, increase investment in health and education. The first advance estimates of GDP for 2020-21 are much better than the earlier market consensus and shows the inherent strengths of the Indian economy. The economy is expected to contract by 7.7 per cent implying a COVID-19 induced loss of Rs 9.61 lakh crore in real terms...
More »Health Budget must look beyond Covid mitigation -Sourindra Mohan Ghosh
-Hindustan Times This entails addressing prevailing systemic deficiencies along with managing the added burden of Covid-19. India’s health sector requires a two-fold intervention by the government. The extraordinary situation created by the Covid-19 pandemic, which has exposed the vulnerabilities of our fragile health-care system, demands an equally extraordinary intervention by the government. The expectation from the Union budget 2021-22 is for the central government to lead from the front in the health...
More »The post-Covid priority: Budget needs to ramp up spending on health and education -S Mahendra Dev
-The Indian Express Budget needs to ramp up spending on health and education. Pandemic has enhanced inequalities, shown up absence of safety nets. India is committed to achieving the Sustainable Development Goals (SDGs) by 2030, and social sector development is important in reaching them. Progress in this sector has intrinsic (for its own sake) and instrumental (for higher growth) value. It is needed even to build a $5 trillion economy faster. Inequalities...
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