On 01 February 2022, Nirmala Sitharaman tabled her fourth budget in the Indian Parliament. During a ninety minute crisp budget speech, she outlined the policy directive, vision statement and placed before the country the income statement... more
On 01 February 2022, Nirmala Sitharaman tabled her fourth budget in the Indian Parliament. During a ninety minute crisp budget speech, she outlined the policy directive, vision statement and placed before the country the income statement for
India has seen a sharp contraction in growth over the past year. The macroeconomic policies implicit in the country’s 2021–22 Union Budget, presented on 1 February, focus on stabilizing growth.
This is the abstract of the doctoral thesis titled "An Analysis of Budgets in India: Redefining the Fiscal Deficit of the Public Sector; 1980-2016" submitted to Jawaharlal Nehru University (JNU), New Delhi. The thesis is focussing on the... more
This is the abstract of the doctoral thesis titled "An Analysis of Budgets in India: Redefining the Fiscal Deficit of the Public Sector; 1980-2016" submitted to Jawaharlal Nehru University (JNU), New Delhi. The thesis is focussing on the question- are we dealing with the correct fiscal data in India? The central idea discussed in the thesis is a call for fiscal transparency, inclusiveness and broadness in measuring fiscal imbalances to better explain the fiscal stance of the government and its impact on the economy. The thesis was completed under the guidance of Prof.Arun Kumar (former Sukhamoy Chakravarty Chair Professor, CESP, JNU; currently Malcolm S Adiseshiah Chair Professor, Institute of Social Sciences, New Delhi) and Prof.Shakti Kumar (Chairperson, CESP, JNU). The thesis was successfully defended and awarded on 19th May, 2021.
The local governments in a federal country play a very important role in providing various basic services to the local people, especially in rural areas by the rural local governments. Our country (India) has also no exception to this,... more
The local governments in a federal country play a very important role in providing various basic services to the local people, especially in rural areas by the rural local governments. Our country (India) has also no exception to this, where (68.1%) of our population according to the 2011 census lives in rural areas. However, despite having constitutional status because of the 73rd constitutional amendment act, the rural local governments (panchayats) can’t able to function effectively, the main reason being inadequate resources. Against this backdrop, the article attempts to study the recent 15th Finance Commission recommendations related to grants for rural local governments in India.
The tax hikes on smoking tobacco in 2014 appear large in the aggregate, but have little effect on the price of single cigarette sticks, a popular mode of retail in India. Analysing the seemingly large tax hikes on smoking tobacco, it is... more
The tax hikes on smoking tobacco in 2014 appear large in the aggregate, but have little effect on the price of single cigarette sticks, a popular mode of retail in India. Analysing the seemingly large tax hikes on smoking tobacco, it is argued that taxes can and must go higher to ensure substantial increases in single cigarette stick prices.
It is no secret that the finance Minister Mr Arun Jaitley had to present his budget in an economic environment characterized by more of gloom and less of advantage. The important manifestations of gloom are: the weak global economy with a... more
It is no secret that the finance Minister Mr Arun Jaitley had to present his budget in an economic environment characterized by more of gloom and less of advantage. The important manifestations of gloom are: the weak global economy with a slowdown of demand , stagnating domestic infrastructure(except highway constructions), high debt burdens of the corporates, high NPAs(Non Performing assets) of the banks, increased rural and agrarian distress, requirements of jobs far exceeding its creation and two consecutive poor monsoons. The two silver lines are the falling oil price and the comfortable foreign exchange reserves at USA $351 billon. In such a situation, making a budget and using it as cardinal instrument of economic and social development for a country like India was daunting. The budget has been presented. Now it is time for postmortem. Let me start this postmortem with my usual caveat that budget is neither the only economic policy paper nor the last word in economic policy making. There are many more policy papers, words and actions of economic policy that happen and I am sure would happen this time too, that walk off the realm of budget. Further, the recent implementation of the 14 th finance commission recommendation that has raised the share of states in the divisible pool of central taxes from 32% to 42%, has to some extent squeezed the revenue and resource intervention base of the central government. In such a situation, budget is essentially a benchmarking exercise that defines the fundamental contours of economic policy of the Government of the day.
Rural Non-Farm Sector Mahatma Gandhi once said the soul of India lives in its villages This Court is relevant even today as around 70% of Indian population still lives in rural areas with the major source of income continuing to be... more
Rural Non-Farm Sector Mahatma Gandhi once said the soul of India lives in its villages This Court is relevant even today as around 70% of Indian population still lives in rural areas with the major source of income continuing to be agriculture. However, increasing urbanization and decrease in the agricultural land non-farm sector in rural India is gradually gathering Momentum. Rural Non-Farm Sector The rural non-farm sector and encompasses all nonagricultural activities like mining and quarrying, household and non-household manufacturing, repair, construction, trade and Commerce, transport and other services in villages and rural towns undertaken by Enterprises varying in size from household on account Enterprises to factories
The first budget presented by the Modi 2.0 government has laid out many intentions which are intended to take India towards a $5 trillion economy by 2024. Mainly investment led, this path has many similarities to the path followed by... more
The first budget presented by the Modi 2.0 government has laid out many intentions which are intended to take India towards a $5 trillion economy by 2024. Mainly investment led, this path has many similarities to the path followed by China. This blog intends to identify a few similarities and point a few challenges to the model.
#Indianbudget, #Modi2.0, #$5trillioneconomy,#Modibudget, #Indianeconomy,#infrastructure, #China, # India
I have just heard the presentation of the 2019 Budget in the parliament by Nirmala Sitharaman, the Finance Minister of India. I respond as a non-specialist and merely as a lay citizen who has no other access to the budget than any other... more
I have just heard the presentation of the 2019 Budget in the parliament by Nirmala Sitharaman, the Finance Minister of India. I respond as a non-specialist and merely as a lay citizen who has no other access to the budget than any other citizen.
On the one hand, while I definitely do not want to respond in line with the facial expressions that Rahul and Sonia Gandhi had throughout the budget presentation, on the other hand, I equally do not want to respond in line with Arnab Goswami’s loud and dogmatic endorsement of the BJP budget on Republic TV.
Having laid out the two extreme positions I hope my own response would be somewhere in the middle that does not unduly adulate nor criticise. A final initial comment – I am sure, a trained economist would have a much more perceptive response than mine and would be able to read between the lines or numbers of what looked like a generally holistic and positive budget.
Will the Indian budget 2016 be steady and staid if the finance ministry wants to manage fiscal deficit, although marginally? Read more to know what Aranca estimates about the upcoming union budget.
