India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
Prabhat Patnaik The National Statistical Office (NSO) has decided not to release the quinquennial survey data on consumer expenditure for 2017–18. This is because these data, leaked by The Business Standard (November 15) show a drop of 3.7 per cent in real per capita consumer expenditure between 2011–12 and 2017–18, from Rs 1,501 per…
Gaurav Vivek Bhatnagar The Reserve Bank of India’s (RBI’s) repeated warnings on the electoral bond scheme in bearer form having the potential to increase black money circulation, money laundering, cross-border counterfeiting and forgery were ignored by the Centre as it was more keen on protecting the identity of donors, the Ministry of Finance’s responses…
Divya Guha It has come to light that according to its profit and loss statement for the quarter ended March 2019, Tata Consultancy Services donated Rs 220 crore to an unnamed beneficiary. This makes the infotech consultant the single largest political donor. TCS has outdone Prudent Electoral Trust, which supplied a total…
Subodh Varma It would have seemed natural—indeed, imperative—that, as India grapples with a deadly slowdown, with agricultural economy growing only at around 2% and rural joblessness hovering at a shocking 8%, the government would infuse some energy in the implementation of the rural jobs guarantee scheme (MGNREGA). This would put more money in the hands…
Courtesy: The Wire A recent working paper published by the Centre for Sustainable Employment, Azim Premji University has contested official claims on employment, showing an “unprecedented” fall in total employment from 2011–12 to 2017–18. Written by Santosh Mehrotra and Jajati K. Parida, the study says employment dropped by 9 million between these years—“for the first…
Prabhat Patnaik (This article was written before the Indian government announced that it was not joining the RCEP. It continues to be relevant, as there is enormous pressure on the government to join the trade agreement– Editor.) On October 24–25, there were widespread peasant protests all over the country against the Regional Comprehensive Economic Partnership…
Courtesy: News Click Joan Robinson, the well-known economist, had drawn attention to a fundamental difference between foreign direct investment (FDI) in the manufacturing sector and in a sector that extracted an exhaustible resource, such as a mineral product. This difference can be illustrated with an example. Suppose in both sectors profits worth Rs 100 are…
The class function of Hindutva is becoming clearer by the day. In the lee of Hindutva, the Modi government is embarking on a massive programme of privatisation of the public sector, and of attack on the working class. Such a programme could not have been launched under the “normal” circumstances of capitalist rule; it would…
The government has finally admitted that the Indian economy is on a steep downturn. For some time now, even the business community, which tends to shower all praise and disapprove any criticism of the reformist Modi dispensation, has expressed concern about deteriorating economic conditions and the absence of any decisive action on the part of…
One of the major promises on which the 2014 elections were won was massive job creation. Even after its stunning victory in 2019, primarily fought on the national security plank, among the first things the new Narendra Modi government did was to set up a cabinet committee to create jobs. How successful has it been?…
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