No country that runs a government-driven system for technical and vocational education and training has been successful in doing so.
The Budget is passed by parliament on the basis of certain allocations for critical areas. How, then, can these allocations be drastically changed without parliamentary approval?
While media focus continues to be on low allocations, what slips past unnoticed is that even those amounts aren’t lived up to.
The RBI’s statement, the first after the Budget, carries forward the Budget’s message of fiscal discipline and consolidation.
Spending on Housing for All, road construction and other infrastructure projects is likely to create jobs, but it remains to be seen whether this alone will be enough.
The Budget allocation for the health sector is not even one-third of the target laid out in the draft National Health Policy.
M.K. Venu, founding editor of The Wire, in a discussion with journalist Govindraj Ethiraj on the nuances of this year’s Budget.
The finance minister’s announcements on moving towards a more progressive direct tax structure and tax incentives for MSMEs are heartening.
The Budget estimates of gross tax revenues for 2017-18 are the same as the revised estimates for 2016-17 – 11.3% of GDP.
Were the budget estimates for corporation and income taxes in 2016-17 a typographical error or have they been carefully massaged?
Not only has the Budget failed to include measures to fix the damage caused by demonetisation, it also hasn’t taken advantage of the opportunities created.
A large amount of the already inadequate budgeted expenditure is on non-targeted schemes, which are barely useful for the development of SC/ST communities.
With a new policy on education awaited for more than a year now and no signs of what might be in the offing, any hopes of some indications from the Survey and the Budget have also been belied.
While the planned expenditure on irrigation is commendable, Gulati told The Wire, the major disappointment was the lack of talk on direct benefit transfers.
Expenditure announced does not seem to have any connection to what has worked (or not) in the past.
The dichotomy between the interest of finance capital and the needs of the social sector has never been starker.
Two supplementary MNREGA allocations were made by the government last year. This means, there’s only a 1%, not 25%, actual increase in this year’s Budget.
Dealing with demonetisation aftereffects requires a fiscal and monetary boost, but the government appears to be in no mood to deliver it, for obvious reasons – the fiscal cushion that Narendra Modi’s brainwave was supposed to provide never materialised.
Siddharth Varadarajan and Anuj Srivas bring you the highlights of the 2017 budget.
Health minister Jagat Prakash Nadda had previously maintained that the sector had no funding issues, but recently revealed documents show he now believes his department needs more money to meet its objectives.
Despite all the talk of a big push to the agricultural sector, the last Union Budget turned out to be a missed opportunity to provide genuine relief to farmers. The government must rectify this.