Reducing welfare spending right now is a dangerous gamble
Praveen Chakravarty writes: Increased government investment to stimulate economic activity is in principle a sound philosophy. But there are other more prudent ways to raise funds.
Praveen Chakravarty writes: Increased government investment to stimulate economic activity is in principle a sound philosophy. But there are other more prudent ways to raise funds.
By moving away from welfare and subsidies to capital expenditure, the government is betting that trickle down effects will boost private investment, leading to more jobs
The harsh truth is that India’s economy is not working for its people due to misguided policies. So, there is only one metric that India’s budget must focus on: Employment
That the government did not come up with a detailed ‘COVID-19 Emergency’ Budget for the year 2021-22 is telling
Prudent public investment and a robust safety net can stop India from falling off the precipice of the economic cliff.