Category Public Finances and Macroeconomics

Women The Real Architect of our Society

Women: The Real Architect of our Society

According to the most recent report by the United Nations, "Women and girls comprise half of the world's population and, as a result, also half of its potential." As a result, the development of any nation is directly proportional to the development of the women and girls living in that nation. Women were valued by society in ancient Indian culture, and society at the time considered women to be Janani, which means mother and worshipped women as Devi, which means goddess. 
Good and Services Tax Collection: India's progress towards 'One Nation, One Sales Tax'

Good and Services Tax (GST) Collection: India’s progress towards ‘One Nation, One Sales Tax’

The progress of India’s Goods and Services Tax (GST), based on taxing value-addition, introduced as a dual tax levied by both the centre and the states, in a short period since 2017 when it was introduced, has been commendable. The GST has helped India progress towards the vision of ‘one nation, one sales tax’; and has helped reduce transaction costs of businesses at all levels, while facilitating lower logistics costs toward greater global competitiveness.  To implement GST, a Constitutional amendment was needed as in the then-existing Constitution, there was no provision for levying sales tax on goods by the Union government, and the states could not levy sales tax on services.
The Other 'Fund Crunch':How India's Political Funding limits Inc's Global Opportunities

The Other ‘Fund Crunch’: How India’s Political Funding limits Inc’s Global Opportunities

If Indian companies are to go global, find global partners accountable to their shareholders and laws that call for clean operations that are at least noiseless, if not quite squeaky and receive inexpensive capital from abroad, Indian politics has to clean itself up. While we are all proud of India's democracy, few of us bother to fund any political party. We are content to let parties fund themselves by mobilising funds as they traditionally have from the time of the freedom struggle when industrialists like G D Birla used to fund the Congress. But most such funding was informal, with no structured, transparent disclosure of who funded which party and to what extent.
Union Budget 2023- 24: Impact on Urban India & Local Governance

Budget 2023-24: Impact on Urban India & Local Governance

This year’s budget is a bag of misplaced government spending priorities and misses some crucial challenges facing urban development. The last full Union budget of the National Democratic Alliance (NDA) government continues to be plagued with the idea that “the private capital will ameliorate some of the basic problems of India and that large capital-intensive technologies will usher in development, including inclusive development.” How fallacious is this argument? We have seen this in the past three decades. The structural difference brought in by Manmohan Singh’s budget in 1991 was to “shift India’s economy away from the hands of the government to the hands of private enterprise, and embraced free trade.
Economic Survey, Union Budget, Labour Law Reforms and Unorganised Sector

Economic Survey, Union Budget, Labour Law Reforms and Unorganised Sector

The Economic Survey 2022-23 is an information provider with little analytical thrust, at least on labour-related matters. The Economic Survey (ES) 2022-23 prepared the ground for the focus points in the Union Budget 2023. The story on the labour front is as follows.
Electoral Bonds No Solutions

Electoral Bonds No Solution

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.
Hindenburg's bet against Adani

Hindenburg’s bet against Adani

Few can vouch for the veracity or otherwise of Hindenburg’s research that raises serious allegations of wrongdoing against the Adani group. The present author certainly cannot. These charges could be accurate to varying degrees but that does not put Gautam Adani in the company of fly-by-night operators or the likes of arms brokers and others who profit purely from government patronage. Adani is a first-generation entrepreneur who has dreamed big, executed with excellence and has built chunks of the Indian economy’s essential infrastructure, whether ports, power plants, grain storage or renewable energy.