While Finance Minister was sleeping, credit outflows inverted
Since FY20, banks are giving more personal loans than loans to industry, particularly to large industry, and the growth in personal loans is even more dramatic
India’s demographic curse in waiting
Human capital development is critical for the growth and development of any economy, but that is where India remains a global outlier, in spite of having entered the “Amrit Kaal” and becoming the fifth-largest...
Notwithstanding FM’s bravado, global recession is a big threat to India
In fact, Centre’s whimsical policy response to the emerging global economic scenario is an equally big threat to the economy It would be imprudent to assume that a global recessionary trend will bypass India....
Windfall tax on corporations goes as 5% GST on food items kicks in
In keeping with its anti-people and pro-corporate tax policy, the Central government withdrew the windfall tax on oil exports on July 19th – 19 days after it was imposed – with effect from July...
Agnipath: One more disaster in the making
Replacing regular jobs with short-term contractual ones will not only compromise professionalism in the armed forces and national security, but it will also pose a serious threat to social order already torn asunder by...
Why is the Centre afraid of caste data and the census?
It is the fear of providing a fresh sail to the ‘Mandal’ (OBC) politics of the 1990s that prevents ‘Kamandal’ (BJP) politics in power from disclosing OBC data of the SECC of 2011 or...
When Finance Ministry takes to fakery
It is absurd for the ministry to say 5.5% inflation in FY22 didn’t hurt the poor and even more so its claim that a fall in inflation from 6.2% in FY21 to 5.5% in...
IBC’s stressed asset resolution is under severe stress, needs overhauling
Everything that can go wrong is going wrong with the big-ticket “reform” Insolvency and Bankruptcy Code (IBC) of 2016, which was sold as the panacea for stressed asset resolutions (NPAs).
What is wrong with the language of neoliberal economics?
Have you ever wondered why food and fertilizer assistance to poor citizens is called “subsidy” but tax assistance (tax cuts, tax holidays etc.) to rich corporates is called “incentive” or “stimulus”? Or why when...
Reclaiming the Right to Unionise
A truly historic development took place in the US earlier this month which has attracted little attention in India. The workers of tech giant Amazon’s New York warehouse forced the second-largest employer in their...
Political motive? NREGA’s payment move creating caste divide where ‘none existed’
The Modi government’s accounting jugglery and gaslighting are legendary. Yet, here is one more instance, which is a work-in-progress, and threatens to further damage the society and the economy. We are talking about the...
Modi’s welfare offers: Extreme poverty led people to condone govt failures during polls
One of the striking factors in the BJP’s electoral win in the recently concluded election in five states is the role welfarism played in overcoming anti-incumbency. Ground reports and political analysts have reported and...
Why caste-based MGNREGS payment is sending shock waves across India
The Modi government’s accounting jugglery and gaslighting are legendary. Yet, here is one more instance, which is a work-in-progress, and threatens to further damage the society and the economy.
Worshipping Ambani, Adani? Lower tax for the rich ‘means’ higher tax for the poor
The Indian tax system has been regressive for long with direct tax contributing less than indirect tax – contrary to what happens in developed economies. It is also known that tax incentives benefit corporates...
Modi’s ‘Namak’ and the Politics of Welfarism
One of the striking factors in the BJP’s electoral win in the just concluded election in five states is the role welfarism played in overcoming anti-incumbency.
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