-The Hindu The Finance Minister must move to an expansionary fiscal stance that prioritises job creation, public service provision It is that time of year in India, when all eyes and ears turn to the Finance Minister to learn what she will unveil in the annual Union Budget. But it is a moot point whether, even in a year of the novel coronavirus pandemic and economic crisis, that speech will be of...
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Fix inverted tariff structures to boost industrial growth in India -C Veeramani and Anwesha Basu
-Livemint.com Correcting import-duty anomalies will attract foreign firms to set up assembly bases here and lift our global competitiveness A steady decline in import tariff rates in manufacturing industries had been an important feature of India’s economic reforms during the 1990s and 2000s. The average import tariff rate was reduced from about 84% in 1990 to the lowest-ever level of 8.6% in 2010. Consequently, imports of goods plus services as a percentage...
More »Budget 2021 Is a Chance to Undo the COVID-Induced Inequality That Has Surged Across India -Nikhil Dey
-TheWire.in Ideally, the government should increase the work entitlement for MGNREGA to at least 150 days, double the budget and put in place an urban employment guarantee act. Let’s start with those who did well over the last 10 months. The Sensex index crossed the 50,000 benchmark for the first time on January 21, 2021, with a whopping 70% increase since April 2020. The Oxfam inequality report, just released, gives an idea of...
More »Once in a Century Budget: Statement of Fact or Hope? -Arun Kumar
-TheWire.in The pandemic and lockdown threw existing budgetary calculus completely out of line. But that provides an opportunity too. In December 2020, talking at a CII meet, finance minister Nirmala Sitharaman reportedly stated: “100 years of India wouldn’t have seen a budget being made post-pandemic like this”. Was it a mere statement of fact, that never before had parts of the budget-making process been done in a virtual manner after a pandemic, or...
More »In agri-credit, small farmers are still outside the fence -AS Mittal
-The Hindu The agriculture sector’s performance has not been commensurate with the increasing subsidised credit it receives Farmers on the warpath would mean that agriculture reforms have again occupied centrestage not just in the minds of the politicians but also policymakers. To enable small farmers to diversify their crops or improve their income they must have access to credit at reasonable rates of interest. This has been an agenda of the triad...
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