-Newsclick.in Health care profiteering in COVID times. Spiraling health care expenses in India have been pushing more than 55 million Indians into a state of abject poverty every year. COVID-19 has only worsened the trend for even more families—like Aghan Singh’s. To ensure that his sick mother received the best treatment, Singh, a self-employed motor mechanic in the small town of Bilaspur, in Chhattisgarh, India, decided to take her to a popular private...
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A Govt Unequal to the Task as Economy Sinks -Prabhat Patnaik
-Newsclick.in The significant fall in government expenditure during the lockdown is just the opposite of what the Modi government should have done. A striking aspect of the 24% decline in India’s GDP in the first quarter of 2020-21 compared with the first quarter of the last fiscal year is the decline by 10.3% in public administration, defence and other public services. This is a sector where the GDP (gross domestic product) is...
More »Desperate economic situation calls for immediate boost to government expenditure -Prabhat Patnaik
-National Herald Universal cash transfer to non-income tax households is imperative apart from covering investment on infrastructure, including social infrastructure like healthcare A striking aspect of the 24 per cent decline in GDP in the first quarter of 2020-21 compared to the previous year’s first quarter is the decline by 10.3 per cent in public administration, defence and other public services. This is a sector where the GDP is estimated not by...
More »India should opt for income support so that pandemic does not turn into a financial crisis -Jahangir Aziz
-The Indian Express What is needed is ample income support for households and firms now so that the recovery is not hamstrung by excessively damaged balance sheets Even a cursory reading of Brazil’s recent history will confirm that the adoption of the all-encompassing cap on government spending in late 2016 was critical in rescuing the economy from the crisis of 2014-16. After riding the commodity boom of the 2000s, economic mismanagement and a...
More »Tumbling down -Renu Kohli
-The Telegraph The slump in the GDP and the pain ahead The -23.9 per cent shrinkage in the April-June GDP is not a surprise as nearly half the period witnessed a national lockdown. It’s also not surprising that this loss is the world’s steepest for India’s lockdown was the most stringent and the accompanying fiscal policy response the weakest. But the quarter per cent slump did surprise most analysts who have since...
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