Coming in the midst of the immense damage inflicted on the Indian economy by the COVID-19 pandemic, the 2021–22 Union Budget needed to perform the unenviable task of compensating households for...
Budget 2021–22
The budget speech on 1 February 2021 announced an allocation of over `2.2 lakh crore to health and well-being, at 137% higher compared to BE 2020–21. The Fifteenth Finance Commission emphasised the...
The growth rate of manufacturing value added has been declining continuously since 2016–17 and it had become negative in 2019–20, even before the intensification of the Covid-19 crisis, suggesting...
The pandemic, the climate crisis, and crisis in agriculture call for sustainable solutions, which are acknowledged by NITI Aayog, but did not find a thrust in the budget. A positive growth in...
Budget 2021–22 has been presented in the context of a sharp slowdown in an economy battered by a severe contraction due to the lockdown. The pandemic has only contributed to the worsening of the...
High deficit has no fiscal costs if it can be substantiated with increased public investment or “output gap” reduction. When the monetary policy stance has limitations in triggering growth through...
The budget for 2021–22 is important for three reasons. First, it provides a reality check on the government’s attempt to keep up public spending in the wake of severe contraction in revenues and...
Why was India’s growth slowing in the run-up to COVID-19 and how much fiscal space was used to stem the slowdown? What is the nature of India’s economic recovery from COVID-19? How does the budget...
