The creative sector, which holds immense potential for employment generation and a healthier, happier population, suffered a body blow during the pandemic. A new report by British Council and Art X company takes stock of the damage.
The cumulative effect of the Modi government’s flawed policies and the unfair tax burden have sent millions into unemployment, truncated the small and medium industry, and sapped vitality out of India’s working classes.
The Budget shows no commitment to agricultural growth or farmers’ welfare. Against the background of the raging farmers’ agitation, this is only likely to widen the government’s trust deficit with farmers.
Nirmala Sitharaman’s budget for 2021-22 is aggressively tilted in favour of the privileged and denies succour to those worst hit by the COVID-19 pandemic. It marks a significant point in the journey of liberalisation in India.
The Economic Survey recalls the Chinese success in industrial development and advocates a strategic focus on manufacturing but pays little attention to the role of the state in China’s industrial development.
Going by the data put out by the RBI and other government agencies, the present slowdown is not a “soft patch”, not even “cyclical”, but substantially “structural”, mostly because of wrong policies, including demonetisation.
As the euphoria over India’s latest Nobel Prize win subsides, it is time to question the validity of randomised control trials advocated by the prize winners as the gold standard in the fight against poverty.
The knitwear industry in Tiruppur has not recovered from the double whammy of demonetisation and GST implementation. With a stack of government policies blocking their way, the manufacturers feel that it is a matter of time before many units shut shop.
The coerced takeover of the publicly owned IDBI Bank by LIC, the country’s largest insurer, will neither protect the interests of the beleaguered bank nor further the interests of the insurer or its policyholders.
Greater availability of data on GST will shine a light on the contributions of States towards the national exchequer and make a case for equitable distribution of the Centre’s shareable tax revenue among them.
The launch of the Goods and Services Tax amidst great fanfare, but without adequate preparation, marks a continuum with demonetisation and threatens the viability of millions of small and medium enterprises.
The government’s recourse to an ordinance to solve the “bad loan” menace in the Indian banking system raises serious questions of moral hazards and its motive in driving public sector banks towards privatisation.