History of one year of UPA has been essentially a history of neo-liberal offensive in India.
The agenda of disinvestment is again in the policy horizon with the coming back of the UPA to power without the support of the Left. This agenda is however a completely discredited agenda as has been argued here.
In a very well written article published in The Hindu, the well known economist R Nagaraj attacks the policy of disinvestment from a different perspective. The article can be found here.
Subhanil Chowdhury of Pragoti Editorial Team writes about the lacunas in The Mid Year review of the Indian economy which was placed in Parliament on 23 December 2008.
"Now that the economic slowdown is clearly making itself felt in both economic activity and employment, the central government has finally decided to do something about it. The trouble is that the economic package announced on Sunday is simply too feeble to go very far and, even combined with the monetary policy measures announced earlier, is unlikely to reverse the overall decelerating tendency. " Writes Jayati Ghosh.
True, the daily miseries encountered by millions and millions of the poor in the country are indescribably grim. And yet, how does one ignore the reality currently unfolding in the stockyard of our stock markets, with scores of families getting ruined, persons engaged in stock-broking firms all of a sudden losing their jobs, a few desperate ones, who have seen their assets disappear in the course of a week’s hurricane, choosing to commit suicide? A sullen anger, mixed with a sense of fright on account of not knowing what is in store tomorrow, hangs in the air. In a large number of cases, those rendered paupers by the share-market devastation were more sinned against than sinning: they were led up the garden path and soon lost their bearing, prudence got juxtaposed with temptation; once they crossed the threshold, they did not know what had hit them. Writes Ashok Mitra in The Telegraph
"It is the result of the policies of the Government that the corporate sector rose to the stature of the dominant investor in the economy. This investment while generated high growth could not increase the purchasing power of the majority of the people. With the private sector in a crisis of its own, in the absence of Government boosting demand, the conditions of the people will further worsen. It is time to go back to John Maynard Keynes and argue like him for state intervention to boost demand."
Pragoti editorial team member, Subhanil Chowdhury, analyses the causes of the recent slowdown in the Indian economy.
The world appears to be turning upside down. Otherwise, how could one expect such a screaming headline on manpower retrenchment? The pink slips received by 800 employees of the Jet Airways and 1,100 more on the chopping block did hog the headlines of the mainstream media. Nilotpal Basu discusses.
The many arguments offered in support of Public Private Partnerships don't stand up to close examination. The private sector is not more efficient than its public counterpart, nor is cheap money accessible to it as readily, write Shripad Dharmadhikary and Gaurav Dwivedi for India Together.
Spectrum is too important to be left to India's current spectrum managers whose skills and expertise are clearly out of sync with market realities. If we can instead move to regulating spectrum transparently like an economic resource that it manifestly is, we will be surprised to see how fast the controversies disappear, says Nilotpal Basu, Central Committee Member of the CPI(M) in the Economic Times.