Modi’s economic policies are primarily driven by political objectives rather than substantive economic concerns
Modi’s policies have caused an unusual increase of income and wealth concentration in the hands of a few business houses. | Photo Credit: AMIIT DAVE/REUTERS The election results, which gave both the BJP and the National Democratic Alliance a far fewer number of seats than they had in the previous
India’s Booming Forex Reserves: Hidden Risks and Economic Concerns
The influx of foreign capital to India is creating domestic vulnerabilities by causing a credit boom, particularly in retail lending. | Photo Credit: REUTERS Figures on India’s balance of payments in financial year 2023-24, released by the Reserve Bank of India recently, have added to the hype on India’s growth
Maharashtra State Budget 2024-25: NDA’s Pre-election Spending Spree Could Impact Economic Growth and Strain State Finances
Inaugurating the Bundelkhand Expressway at Jalaun, Uttar Pradesh, on July 16, 2022, Prime Minister Narendra Modi warned against the revadi (freebie) culture “that is detrimental to the development of the country”. However, the ruling National Democratic Alliance (NDA) in Maharashtra is doing exactly that. On June 28, Deputy Chief Minister
India’s Election 2024: Caste Politics Surge Exposes Economic Anxieties and Policy Vacuum
In the recent general election, many voters gave their material interests priority over Hindu nationalism, delivering a shock to the ruling BJP. In doing so, they demolished the hype about “India on the move”, propagated by both international and domestic elites. The hype—built on exaggerated GDP growth numbers and detached-from-reality
Economic Survey 2023-24: Growth Prospects, China Strategy, AI Impact
The Indian economy is on a strong wicket, despite geopolitical challenges, says the Economic Survey 2023-24 tabled in the Parliament by Union Finance Minister Nirmala Sitharaman on July 22. The Survey, authored by Chief Economic Adviser V. Anantha Nageswaran and his team, is an annual document presented by the government
Union Budget 2024-25 Highlights | Middle Class Tax Cuts, ₹2 Lakh Crore for Jobs, Aid for Bihar and Andhra
Union Finance Minister Nirmala Sitharaman on July 23 announced income tax relief for the middle class, a Rs.2 lakh crore outlay for job creation schemes over the next five years, and a spending splurge for States run by her party’s new coalition partners, the Telugu Desam Party (TDP) in Andhra
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Coalition Pressures, Middle-class Squeeze, and Execution Gaps Mar BJP’s Post-election Budget
In the snap TV analysis post Budget, an industry head struggled to find the right adjectives to commend what he had just heard. “Frankly, I like the Budget,” he said, and added, “I think it is a good Budget” before pausing to hit home the central takeaway: “It is time
Budget 2024 Shows That Modi Government Has Not Learnt From Its Electoral Setbacks
The hype around the presentation of the Union Budget is often overblown in India, but it still merits attention. Because it provides an indication of the nature and intentions of the Central government, at least for the year going forward, it is both economically and politically significant. What does this year’s
India’s Gender Budget: Big Numbers, Small Impact
In her 2023-24 Budget speech, Union Finance Minister Nirmala Sitharaman emphasised nari-shakti, or “women’s potential”, and stated that facilitating inclusive, women-led development was the government’s priority. This was also reflected in India’s G20 commitments during its G20 presidency last year. This year’s Union Budget also shows the government’s commitment to women’s economic