-The Indian Express With a more accurate way of measuring GDP growth, the pace of recovery is much slower in real terms Imagine driving a car whose speedometer cannot tell the current speed but only relative to what it was four hours ago. Apart from the comical encounters with police when stopped for speeding and the predicament in defining a “speed limit”, there is a more fundamental problem it would create. The...
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Fiscal transparency jacks up ‘expenditure’ numbers in the Union Budget 2021-22
In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the budgetary...
More »Budgeting in a time of crisis -TCA Ramanujam
-The Hindu Keynesian economics offers guidelines for preparing the Budget The Great Depression wrecked the economies of the U.S. and Europe. In the words of Jonathan Alter, when Franklin Roosevelt became the American President in 1933, he was told: “Mr. President, if your programme succeeds you would be the greatest President in American history. If it fails, you will be the worst one”. Roosevelt replied: “If it fails, I will be the...
More »Travails of ASHA Workers During COVID-19 Call for Renewed Focus on Public Health -Deepanshu Mohan, Jignesh Mistry, Advaita Singh, Sunanda Mishra and Shivani Agarwal
-TheWire.in ASHA workers and other community healthcare workers have experienced extra working hours, loss of pay and social apathy during the pandemic. Walking into 2021, if there was one positive to be identified with the large-scale outbreak of a pandemic in 2020 in India, and the rest of the developing world, it would have been this: a primary focus given by most governments and their executive agencies to improve healthcare services and...
More »Quality gigs, a solution to urban unemployment -Vineet John Samuel
-The Hindu With no urban equivalent to the NREGA as yet, there must be a focus on supporting new forms of employment With the Indian economy gradually finding its feet after a historic contraction of negative 23.9% in the April-June quarter, economic commentators have busied themselves with debating the need for fiscal expansion and the viability of a “V-shaped recovery”. These debates, however, have shifted focus away from the employment question, considered...
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