01 August, 2021

Scrape The Barrel

Forget the rhetoric, the FM’s left little for core social sectors

Illustration by Sandeep Adhwaryu
Scrape The Barrel

The Union finance minister’s enthusiasm in marking the roadmap to financial discipline and pushing reforms in Budget 2010 is somehow missing in his proposals for inclusive growth. These proposals lack the required homework—in referring to relevant literature, including some recent government reports, and in making estimates of the required funds—and certainly do not reflect much commitment to inclusive growth.

Agriculture—which houses more than 55 per cent of the workforce and bears the disproportionately higher burden of the poor—has been lagging behind the other sectors for the past decades with around 2 per cent annual rate of growth. According to the Economic Survey, this rate declined marginally this year by 0.2 per cent. This sector definitely needs huge investments if it has to grow at a 4 per cent annual rate during the Eleventh Plan. Here, on the face of it, the FM’s four-pronged strategy to help agriculture attain a higher growth arc—promoting production, reduction in wastage of...

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