Economy

Public funds to push neoliberal agenda

Print edition : April 03, 2015

The Budget resorts to drastic cuts in expenditures in welfare projects such as the rural employment schemes in order to ensure fiscal consolidation. Photo: M. Karunakaran

The Economic Survey says until the private sector is ready to play its role, “public investment, especially by the Railways, will have to play a catalytic role”. Photo: P.V. SIVAKUMAR

Finance Minister Arun Jaitley. His Budget’s focus is on public investment in infrastructure projects and the removal of the obstacles that stall their progress. Photo: R.V. Moorthy

Railway Minister Suresh Prabhu. Much of the Railways’ funding is expected to come from market borrowing. Photo: Manvender Vashist /PTI

The Modi government has apparently realised that the private sector is not up to the task of driving growth. It hopes to fund its neoliberal dream of India becoming the fastest-growing emerging market through a combination of off-Budget borrowing and drastic expenditure reduction in key social sectors.
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