India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
The BJP and Prime Minister Modi use official data to buttress their tall claims on growth, inflation and other issues. The ground reality is at variance from the rosy depiction by the government.
Despite the already abysmally low social sector expenditures of the country, the Centre has made huge cuts in its spending on the people to compensate for the huge increase in capex (and the meagre increase in budget outlay).
While the budget outlay is stagnant in real terms, the FM has announced a hike in capital expenditure — of a whopping 37.4%. This is the third year in succession that she has announced a big hike in capex. She claims this “enhance growth potential and job creation”. Will it?
The Indian economy is in stagflation. Further, the people are facing a colossal unemployment, poverty and hunger crisis. For the economy to have a sustained recovery, it is important that the government greatly increases its expenditure. Has the Budget 2023 done anything towards this?
In the third part of this series, we take a look at the overall approach of the Modi Government towards budgetary revenues and budgetary spending. That would give us pointers towards examining this year’s budget — to see if anything has changed.
In this second part of this year’s budget analysis, we take a look at the economic situation in the country, in the background of which the FM presented her budget.
The first article in our budget analysis series for this year. We begin our discussion of the Union Budget 2023–24 with a brief discussion of India’s external accounts situation. Amazingly, the budget speech does not contain a single line as regards the country’s external accounts situation.
It is going to have disastrous consequences for the crores of policy holders of the LIC; it is also going to adversely affect the Indian economy.
Vivekananda was not a traditional Hindu monk but a modern ascetic with a scientific and materialist outlook. Unlike other saints, he did not offer prayers to the Almighty for his own salvation but sought salvation of the poor and the marginalised.
If the government partially withdraws some of the concessions / subsidies / transfers of public wealth being given to the rich, and imposes some additional taxes on them, it can raise enough additional revenues to finance a big hike in its social sector expenditures.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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