Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...

-TheWire.in Mexican economist David Barkin on India's neoliberal economics, growing inequalities, agrarian distress and more. David Barkin is Professor of Economics at the Metropolitan Autonomous University in Mexico City. He received his doctorate in economics from Yale University and was awarded the National Prize in Political Economics in 1979 for his analysis of inflation in Mexico. His research has focused on the development of an alternative to the capitalist economic model. In an...

-The Hindu As the U.S. loses interest in multilateralism in trade, India should actively try to arrest the organisation’s slide Less than 25 years after the World Trade Organisation (WTO) was created, its future as a body overseeing multilateral trade rules is in doubt. The failure of the recent ministerial meeting at Buenos Aires is only symptomatic of a decline in its importance. Too ambitious? When the WTO was born in 1995, replacing the...

-Frontline The inability to resolve pressing problems with respect to the production, distribution and availability of food is one of the important failures of the entire economic reform process. IN the fateful month of July 1991, when the devaluation of the Indian rupee presaged the introduction of a whole series of liberalising economic reforms, agriculture was very far from the minds of most policymakers and commentators. The immediate focus was on...

-The Hindu As the government pushes for ‘Make in India’, it could begin by unmaking the damage the post-1991 reforms inflicted on domestic industry. This year marks 25 years since the so-called “economic reforms” were launched in July 1991. By now, broad contours of the policies and practices that characterised such reforms are well known, viz. radical deregulation, marketisation and privatisation of the industrial, technological and financial sectors, and an across-the-board...