India added a whopping 79% to the global ‘extreme poor’ in 2020
Shockingly, World Bank estimated this using a private firm CMIE’s surveys, because Indian government wouldn’t collect household consumption data, lest it reveals the ugly truth
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
Understanding Deregulation, Privatisation & Economic Reforms: What derailed the Indian economy?
The derailment began in 1991, with the World Bank, an IMF loan, and the liberalisation, privatisation, and globalisation agenda.
Why does the Centre dislike freebies and the States love them? What is the real story? THE MONEY TRAIL
From the Prime Minister to the Supreme Court, there seems to be consensus against freebies. Free or subsidised food grains, electricity or health care for the poor has suddenly become the root cause of...
Use of a rupee route to get around dollar dominance
India could take advantage of geopolitical developments to promote trade and gain better status for the rupee, by avoiding dollar A number of countries, including India, are now considering the use of other currencies...
GST बनाम गब्बर सिंह टैक्स | हमारा पैसा हमारा हिसाब
जीएसटी की शुरुआत टैक्स प्रणाली को सरल बनाने और डबल टैक्स से बचने के लिए की गयी थी। लेकिन अब हर रोजमर्रा की जिंदगी में इस्तेमाल होने वाली चीज पर टैक्स देना पड़ रहा...
Lies, Despair and a Grotesque Inequality Plagues Indian Economy Today
We witnessed an infantile jubilance on the part of the government since last year about a “record recovery” from the pandemic. Finance Ministry’s report claimed that armed with necessary macro and micro growth drivers, India...
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...
How do the Indian State and the Banks make Oligarchs the Global Champions?
Some time ago, Mr Amitabh Kant, CEO of Niti Aayog stated they can’t take care of 140 billion people but will create a few global champions.
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...
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...
More Privatisation, less Accountability- How did the Indian Economy fare last month?
In pursuance of its policy of monetisation of national assets, the government earlier this month approved the setting up of the National Land Monetisation Corporation (NLMC). It would be a government-owned company with the...
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...
Book Review: How Mindless Decisions Since 2014 Worsened the Abject Economy We Inherited
Prasanna Mohanty’s 'An Unkept Promise: What Derailed the Indian Economy' looks at the economic landscape of India since Modi took over in 2014 and explains what went wrong based on data and hard evidence.
Faced with grotesque inequality, what can we learn from Chile?
“Chile was the birthplace of neoliberalism, and it shall also be its grave!” said Gabriel Boric, a young student leader from the radical fold who was forged in the protests that has rocked Chile...
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