The Budget Numbers the FM Does Not Want You to See
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The Budget Numbers the FM Does Not Want You to See

Jayati Ghosh When finance minister Nirmala Sitharaman’s Budget speech omitted numbers relating to the government’s overall revenue and expenditure, for both the previous and current years, this was widely commented on. After all, these numbers are the reason for having a Budget speech in the first place—to provide parliament and the general public a quick…

$21 Trillion Hoard Hidden from Taxman by Global Elite
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$21 Trillion Hoard Hidden from Taxman by Global Elite

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary $21 trillion of wealth offshore—as much as the American and Japanese GDPs put together—according to research commissioned by the campaign group Tax Justice Network. James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled…

Over 4 Crore Are Jobless Now, Much More Than Earlier
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Over 4 Crore Are Jobless Now, Much More Than Earlier

Finally, the government has released the suppressed report on unemployment, now that elections are done and dusted with. Meanwhile, joblessness has worsened dramatically with an estimated 4.17 crore people unemployed, according to another recent report of the CMIE (Centre for Monitoring Indian Economy), based on a similar sample survey. The government had directed the National…

Capitalism Has Failed—What Next?
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Capitalism Has Failed—What Next?

Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialisation, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at this point can only…

Modi Govt has Crippled the Public Sector
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Modi Govt has Crippled the Public Sector

ONGC, the once-glittering and now struggling Maharatna, best exemplifies the fact that there is something sinister in the very approach of the outgoing Modi Government towards the public sector enterprises (PSUs). In May 2019, the cash reserves of ONGC, the richest PSU, had fallen in the last two years of Modi Government to a miserable…

The Billionaire Beneficiaries of BJP’s Schemes
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The Billionaire Beneficiaries of BJP’s Schemes

The Bharatiya Janata Party (BJP) government’s numerous schemes meant for ordinary Indians—farmers, youth, women and others—have received a great deal of publicity from the government and a fair amount of criticism from the public for their failure. Yet, there is one highly successful scheme of the BJP government under PM Narendra Modi, that has not…