Sitaram Yechury Illustration: R. Rajesh
Sitaram Yechury Illustration: R. Rajesh /Picture from The Hindu


The Finance Minister presented the first full budget of the Modi government with an air of “illusions of grandeur”. Preparing for the celebrations of the 75th anniversary of our independence in 2022, he listed “targets” that will be achieved by then. This list is a mere reiteration of what is contained in our Constitution’s Directive Principles of State Policy that should have been attained by 1960! Clearly, he has presumed the Modi government’s return in the 2019 general election. The Modi anti-incumbency wave in Delhi election has, thus, become a victim of the BJP’s “selective amnesia”.

Shorn of all its rhetoric, what does the budget mean for the people? Instead of expanding public expenditures to stimulate growth, employment and people’s livelihood, the budget sees a contraction. In 2014-15, total government expenditure will be 7 per cent lower than the last budgeted figure, i.e., Rs.1.14 crore less. For 2015-...continue reading


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