India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
Mumbai’s public bus transport, the Brihanmumbai Electric Supply and Transport (BEST), once considered a model for bus services in the country, is now in complete shambles. Yet this situation was foreseen and was publicly warned against more than seven years ago, when the authorities took the fatal decision to privatise BEST’s core operations.
The ceasefire agreement between Israel and Hamas brokered by Donald Trump has come into effect. The agreement has drawn triumphal commentary from the Right and hostile criticism from some commentators who believe themselves to be leftist. These commentators have missed the actual significance of what has taken place.
India’s large capitalists and India’s people are both facing problems at present. These problems appear to be direct opposites of each other; but in fact they are two faces of the same phenomenon. In the first part of this article, we described the financial situation of the corporate sector. In the second part, we described the financial situation of the people. In this third part, we link the two.
India’s large capitalists and India’s people are both facing problems at present. These problems appear to be direct opposites of each other; but in fact they are two faces of the same phenomenon. The first part of this article described the financial situation of the corporate sector. This part describes the financial situation of the people.
India’s large capitalists and India’s people are both facing problems at present. These problems appear to be direct opposites of each other, but in fact they are two faces of the same phenomenon. In the first part of this 3-part article, the authors describe the financial situation of the corporate sector.
The Government proposes to reduce the rates of GST. This is a tacit admission that the low consumption levels of the people are the underlying cause of the slump in the economy. However, the manner in which this rate reduction is being carried out will not boost aggregate demand, but in fact slightly dampen it further.
JP Morgan has now decided to add Indian government bonds to its “emerging markets government bond index” (GBI-EM), starting in June 2024. The effects of this will be seen with a lag, over the next few years, but the impact will be far-reaching.
The SBI Research Dept recently issued a “Special Report on Agriculture” that claims that farmers’ income doubled in FY22 as compared to FY18 for certain crops in some states… while in all other cases it rose in the range of 1.3-1.7 times. An examination of some of the features of this report.
The Modi government has suddenly banned the export of wheat, after promoting it actively for two months. The debacle was not because of government incompetence, but the result of government’s neoliberal policy – withdrawal from procurement and the free hand given to private profiteers.
The Indian economy was already in crisis before the Ukraine War. However, the rulers are putting all the blame for this on the Ukraine war, an “act of God”, as it were. That provides them a ready alibi, and diverts from the already alarming condition of the people before the impact of the war.
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