Electoral bonds, as proposed in Union Budget and passed by parliament, would only add to opaqueness in funding, claims a Delhi-based NGO.
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.
For the government to truly fight black money and ensure complete transparency in political funding, the ambit of the Right to Information Act must be expanded to include political parties.
The Budget appears to be pro-poor and pro-business, but it fails to address the reforms actually needed to structurally transform the economy.
Proposed amendments to the IT Act and the RBI Act will exempt political parties from keeping records of donations made through electoral bonds.
A fortnightly column from The Wire’s Public Editor Media coverage of the Budget in an earlier day had a certain ceremony of passage in the country’s news rooms. Editorial teams would sit in front of television sets with notepads and pens to jot down news points as the Union […]
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.
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.
Proposed amendments to RBI Act, IT Act and RP Act would leave the RBI and IT department with no means to probe funding of political parties.
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.
This Budget will benefit only a selected few children in higher education, depriving millions of children from their universal rights to education.
What the health sector needs is much greater attention – in terms of both financial and human resources – to meet the demands of providing universal and free healthcare.
While the planned expenditure on irrigation is commendable, Gulati told The Wire, the major disappointment was the lack of talk on direct benefit transfers.
No matter what steps the government takes, the Indian economy will not revive till real interest rates are lowered.
Expenditure announced does not seem to have any connection to what has worked (or not) in the past.
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.
Expert views on Union Budget 2017-18.
Given the massive hit taken by informal workers after demonetisation, the Budget’s provisions for them are quite inadequate and will be seen as such.
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.
While opinions vary on how long the disruptions caused by Modi’s crackdown on untaxed and illicit wealth will last, there is near unanimity among economists that Asia’s third-largest economy needs a helping hand.
The Centre needs to make up for the losses it has caused to those who already live in precarious, marginalised conditions.
In the 2017 Budget, the government has the opportunity to correct its misguided approach to spending and focus more on the social progress side of development.
In a major setback to the opposition, the Supreme Court’s decision comes in response to a PIL that was concerned that the budget might skew election results
Demonetisation was meant to widen India’s tax base and increase our abysmally low tax-GDP ratio. The government could further this aim in more concrete ways through the Budget.