Budget 2023–24: What Is in it for the People? Part 5: Hike in Capital Expenditure
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Budget 2023–24: What Is in it for the People? Part 5: Hike in Capital Expenditure

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?

Lula’s Return and the Legacy of Destruction
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Lula’s Return and the Legacy of Destruction

Even if the Lula Government succeeds in undoing most of the measures implemented by the last government and confronting the structural problems within the economy, with its extreme inequality and privileges, the contradictions made explicit by the class struggle will remain, hindering the adoption of more progressive measures.

Budget 2023–24: What Is in it for the People? Part 4: Analysis of Budget Outlay
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Budget 2023–24: What Is in it for the People? Part 4: Analysis of Budget Outlay

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?