This year’s Budget, to be presented on February 1, comes at a rather difficult time for the Indian economy. The much-awaited recovery, following the COVID-inducted downturn, is yet to happen, and it is difficult to find a metric that is good news.
Despite official attempts to put on a brave face, the writing is on the wall. Private investment has been tanking for a long time, consumption is down, unemployment is high, and there hasn’t been enough by way of public spending. At the same time, inequality has risen sharply, especially in the years of the pandemic, which have been bad for the informal economy and the MSME sector.
One of the biggest questions that remain is, given its record of fiscal conservatism, will the government decide to spend more to address the crises of malnutrition and hunger, the regression in public education caused by prolonged school closures, and the urgent need to generate employment? Will the Budget signal any relief for the common man, or will be status quoist?
We discuss all these questions and more with Vivek Kaul, business columnist, author and a Budget veteran who has been tracking it for ages.
Guest: Vivek Kaul, business columnist and author
Host: G. Sampath, Social Affairs Editor, The Hindu
Edited by Ranjani Srinivasan
