Budget 2024-25

A Budget of Great Cynicism

Feb 10th 2025, Prabhat Patnaik

No budget in post-independence India had been as openly cynical about the lives of the vast masses of the working people as the one presented on February 1, 2025. All pundits, from the finance minister downwards, agree that the strategy of the budget is to stimulate the economy by boosting middle class consumption through tax-cuts.

Budget-making as Political Instrument

Feb 4th 2025, C.P. Chandrasekhar

If an element of surprise is a hallmark of a good budget, then Finance Minister Nirmala Sitharaman can pride herself on having won the day on February 1. In a briefer than usual Budget speech, reflecting impatience to get to the end, Sitharaman concluded with an unexpectedly large tax break for the tax paying middle classes.

The Goal of Viksit Bharat, the Budget's play with Numbers

Feb 3rd 2025, C.P. Chandrasekhar

Implicit in the Budget is the hope that tax concessions will result in spending and also reviving GDP growth, and 'incentivising' the corporate sector will revive private investment.

Two Alternative Growth Paradigms
Mar 10 2025, Prabhat Patnaik
Nobody can claim that the rate of growth of agricultural production, especially of foodgrain production, has been higher in the neoliberal period than during the years of dirigiste development that preceded it; it may have been somewhat lower but let us agree that it is certainly no higher.
Imperialism's Revival Strategy
Mar 3rd 2025, Prabhat Patnaik
Donald Trump’s foreign policy has left commentators in a real tizzy. His markedly differing positions with regard to Ukraine and Gaza, in the first case apparently pursuing peace, and in the second asking for ethnic cleansing of an entire population, have left them wondering whether his influence on world affairs is a "positive" one or not.
The Sensex, the Rupee, the FIIs and the RBI
Feb 18th 2025. C.P. Chandrasekhar and Jayati Ghosh
The decline in various stock market indices may just be the much-needed correction after an unsustainable bull run. But it can have collateral effects that may be systemically destabilising.
The Recent Past and Present of Agriculture
Feb 4th 2025. C.P. Chandrasekhar and Jayati Ghosh
Agriculture in India has been resilient despite facing many challenges, but these have not led to better public distribution for those in need. Ignoring demands of the farmers’ movement can have serious consequences for future cultivation and food security.
Jayati Ghosh: Rebalancing power
Dec 10th 2024.
The renowned development economist, Jayati Ghosh, offers an eye-opening perspective on the different facets of inequality and the need for systemic change to address them, bringing together her interests in international trade and finance, employment patterns in developing countries, as well as issues related to gender and development.
Young Scholars Conference Political Economy of Contemporary South Asia
October 13-14, 2023 | Berkeley, United States
Jun 14th 2023.
Our key theme is the political economy of contemporary South Asia. At the core of these transformations are the fraught and so-called "truncated transition," where South Asian societies are not making the transition from farm to factory, but the rise of informal economies, industrial clusters, in-between agrarian-urban and peri-urban spaces force us to rethink familiar transition narratives and to eschew them in favour of more grounded theories.
 
 

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