-The Hindu The Budget overlooks the fact that human capabilities are as important as physical capital for economic growth and the quality of life. It goes back to the days when growth and development sounded synonymous, physical capital was thought to be the key, and human capital took a back seat Once upon a time, around the end of the Second World War, there was a naive view in development economics that...
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Social spending cut first time in a decade
-Hindustan Times The government slashed plan expenditure by about 20% in the 2015-16 budget amid fiscal concerns, hitting spending on social sectors such as education and women's empowerment that were the focus areas of the previous UPA administration. In the 2014-15 budget, Arun Jaitley allocated Rs. 5,75,000 crore for plan expenditure, or money that goes towards creation of Productive Assets, but could spare only Rs. 4,65,277 crore this time. This is also...
More »Participatory Budget knocking on Delhi's door
Quite opposite to the top-down model of budgeting, the newly elected Aam Aadmi Party-led Government in Delhi has decided to go for a 'citizen-centric' budget planning at 'mohalla'-level for the fiscal year 2015-16. Drawing lessons from the success stories of participatory budgeting conducted at municipal-level in cities like Porto Alegre (Brazil), the AAP-led Delhi Government has decided to launch this form of decentralized budgeting on a pilot basis in a...
More »Rural reach -Amita Sharma
-Financial Chronicle From the inner recesses of Chattisgarh to the upper crevices of Sikkim, a look at how MGNREGA initiatives are changing lives The large blackboard outside the police station reads like a rate list. There are different monetary awards for Naxalites' surrender with different weaponry, the highest, Rs 4.5 lakh, for surrender with a light machine gun, Rs 3 lakh with an AK 47, and only Rs 30,000 with a 12...
More »Revisiting rural indebtedness - CP Chandrasekhar
-Frontline The problem in rural India is not one of too much credit to poor households that leads to debt waivers that damage bank balance sheets, but one of inadequate access to credit from formal sources. IF Reserve Bank of India Governor Raghuram Rajan is to be believed, efforts to help Indian farmers by providing them with cheap(er) credit and relieving them of an unsustainable debt burden only harms them in the...
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