Capitalism is facing multifaceted challenges due to the problem of policy-making based on incorrect data. Governments and international agencies like the World Bank that depend on faulty official data cannot correctly analyse and help resolve the problems facing the world and its poor.
Why did the valuations of the Adani Group firms become astronomically high? Were the firms’ share prices destined to decline by 85% after Hindenburg’s report? After the drop, have they attained their correct valuation? Arun Kumar Adani stocks rose sharply…
INDIA’S per capita income, representing the average income of an Indian citizen, has risen from INR 79,000 in 2013–14 to INR 1,71,000 in 2022–23 — an increase of 116 percent. Therefore, some claim that incomes have more than doubled in India since the present ruling dispensation took office. The catch is that: a) this includes the price increase during the period and hence does not represent the real increase in incomes, and b) the data for 2022–23 and two earlier years is provisional and subject to revision.
How do donations via electoral bonds funded by legal or illegal money help curb undue influence on policymakers? Electoral bonds provide an additional of such funds.
The Union Government initiated the Electoral Bonds scheme, announced in the Union Budget 2017–18, on January 2, 2018. The aim was “to cleanse the system of political funding in the country”. While many other issues are also germane, the moot question is will this goal be achieved.
The Union Budget for 2023-24 has come at a time when the economy is ostentatiously doing well but is facing challenges both internally and externally. The unorganised sector is suffering due to the policies the government has been pursuing for some time. Externally, the war in Ukraine and the ongoing ‘New Cold War’ are adding to the problems. Both these challenges needed to be addressed in the Budget. Unfortunately, that is not in evidence.
Focus has to shift from the automated large scale sector, to promotion of the rural economy and the small and micro sectors.
The Union Budget 2023-24 is around the corner. A budget is expected to identify the issues facing the economy and society and try to provide solutions to them. This may involve continuing policies or changing them. The budget represents the priorities of the government – what gets more allocation and what gets less. Changes in priorities take time to show any impact, so many analysts say that budgets do not make a difference. But, given that the budget is the largest single economic event, it matters even if priorities remain unchanged.