Amid the doom and gloom of the world economy, there are encouraging signs that the Indian government is now taking tangible steps to reverse the worst aspects of the slowdown in India. Ministers take the lead This is a huge step away from the collective “Nelson’s eye” which was being turned to the crisis earlier. […]Read More Early shoots of reforms revival
Finance minister Nirmala Sitharaman looked relaxed and happy while briefing the press in Panaji, Goa, on Friday about the proposed corporate tax reductions. Her estimate of the loss from the revenue foregone is Rs 1.45 trillion — equal to half the estimated defence expenditure this year. Normally, any FM under fiscal pressure would have mourned […]Read More Reform in driblets keeps the party going
Modi 1.0 was all about learning the ropes of national governance. Budget preparation and execution is a key ingredient. Budget purists cavil that budgets under Modi 1.0 were high on fuzzy motherhood goals and discretionary expenditure but low on schematic, multiplier enhancing allocations. Arun Jaitley’s five years as FM Rhetoric and poetry are part of […]Read More Budget FY2020 – Marching to a different drum beat
Finance high table – not a man’s world anymore There is a heady feeling to being India’s finance minister. Finance is fungible, unlike other factors of production — including the ubiquitous “ahlu” in North Indian cuisine — which gives it the centrality others lack. FM as Magic Maker This unique status of the FM also […]Read More Make the Union Budget credible again
Nirmala Sitharaman has notched up a record merely by taking over as Finance Minister in the Modi 2.0 government. She will be the first woman to hold this position as a stand-alone charge. Indira Gandhi was the first woman Finance Minister in 1970-71. But she was already Prime Minister and assumed the position from Finance […]Read More Finance Minister Nirmala Sitharaman – an avatar of Durga or Laxmi?