One of the features of the current Saradha scam which is distinct from other such scams like the Sanchayita, in West Bengal, is that majority of the people who deposited money in Saradha are rural poor people. Why did rural poor people keep their money in fraudulent companies like Saradha and not in small savings schemes of the government? This is a very important question which needs to be looked at to pin point the role of the central government and state governments in facilitating the activities of companies like Saradha.
Lies, Falsehood and politics of pro-mamata intellectuals of West Bengal
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.
The latest IIP data for the month of October has been released. The data shows that after many years the overall industrial growth in the country has turned negative. Is this the beginning of a prolonged recession in India? Pragoti Editorial team member Subhanil Chowdhury analyzes the latest data for Index of Industrial Production (IIP) ,released for the month of October 2008.
Pragoti's Subhanil Chowdhury comments on the government's steps taken to curb inflation in India, the overall strategy on growth and the recent fiscal stimulus package.
Report on Symposium: What Can We Learn From the Global Financial Crisis?
A symposium on “What Can We Learn From the Global Financial Crisis?” was organized in New Delhi on 17th November 2008 by Anveshan, Delhi Science Forum and the Economic Research Foundation. The Speaker Hall of the Constitution Club, which was the venue for the symposium, was filled to more than capacity. People from all walks of life including a large number of university students attended the programme.
Pragoti editorial team's Subhanil Chowdhury delves into the cause of the layoffs in the Indian economy amidst the slowdown and argues for public expenditure and investment that will put purchasing power in the hands of the people as the way out. An earlier article on the same issue by the author can be found here .
"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.
Pragoti editorial team's Subhanil Chowdhury reviews A Wednesday in our weekly feature of film reviews.
Pragoti editorial team's Subhanil Chowdhury, analyses the current crisis in the international financial market