In the absence of any spending by industry or consumers, the government wants to say that it is now spending in their place. But many spending allocations in the budget seem opaque when analysed by sector. This year too, there was some smart wordplay and marketing wizardry at play.
Posts tagged as “welfare state”
Thousands of people have failed to receive COVID-19 relief measures because the welfare system was broken to start with - from ration cards to worker documentation. But some governments put up quick and temporary solutions, which should now be strengthened.
The coronavirus lockdown has reinforced the merits of a basic income scheme. But apart from alleviating distress, the replacement of wasteful subsidies by a basic income scheme would even be financially prudent. It would make economic reform more viable and the public sector more efficient.
A key driver of unemployment is the chasm between industry and educational institutions. The method of teaching and examination employed across universities in India remains largely primitive and bookish, failing to fulfil the current needs of the industry.