FY 2020 budget post script

The budget analysis commentariat heaved a sigh of relief after the budget for FY2021 was revealed. Unlike last year, at least the accounting seems accurate. So low were expectations that it was almost a pleasure to review the carefully consistent allocations across the more than 700 schemes and 300 major heads of expenditure. These soak […]

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Red lining budget FY 2021

Prime Minister Modi is a “lucky General”. At a time when India seemed most vulnerable, God has chosen to level the field a bit by hitting the global economy and China with a pandemic which is sure to slow growth even further making us look relatively better. The misery of others often comes with collateral […]

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Budgeting by band-aids must end

The sad truth is that global economic stability and growth, including for India, now depend on the unstable predilections of a global party-pooper, who is the President of the United States till at least the third quarter of FY 2021. The International Monetary Fund has said as much, albeit in “diplomatese” — not surprising as […]

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Is India the global fall-guy?

It can’t be very gratifying being the Finance Minister when the International Monetary Fund is calling out India for being a growth laggard pulling down world growth in 2019 to 2.9 per cent (from 3.3 per cent forecast earlier) and in 2020 to 3.4 per cent (from 3.6 per cent forecast earlier). International Financial Institutions […]

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Modi takes charge of the budget

In the run up to the annual budget it is said the Prime Minister is engaged in reviewing the working of departments in eleven hour long meetings. The PMs brand managers possibly think this nugget will comfort the nation that all is well, now that the man at the helm has his hand on the […]

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