"The Modi government’s actions over WTO are a case of much ado about nothing. They have pointedly created a false perception over a non-issue so as to appear pro-poor. Modi said “Do we choose feeding our poor or getting good press world-wide?” Turn this statement around and one gets to see the truth of the matter. The real attempt here is “How to masquerade as pro-poor and get good press in India by using WTO?”
"When Prime Minister Narendra Modi swept to power in India's most resounding election victory in decades, he promised to revive the sluggish economy, rein in rising food prices, tackle corruption and overhaul his predecessor's lackluster foreign policy. Many Indians, long accustomed to political stagnation, believed him. But in recent weeks, critics - and even many supporters - have started to accuse him of squandering his powerful mandate in this boisterous country of 1.3 billion people, where such overwhelming election victories are exceedingly rare.
In his first address as the Prime Minister on India’s Independence Day, Narendra Modi declared: “I am present amidst you not as the Prime Minister, but as the Prime Servant.” This was one of many clever uses of populist rhetoric to appeal to the heart of his audience on 15 August 2014. While it may be the duty of the PM to represent the aspirations of all the people of India, Modi’s actions and those of his government’s demonstrate that in reality, he is committed to serving only the capitalist class for the sake of the GDP.
"On the ambitious Statue of Unity project, Rs 27.6 crore has been spent so far, even as the actual construction work on the 182-metre-tall statue is likely to begin after monsoon this year. Of this, Rs 23.6 crore has been spent on a consortium of global consultancy services providing company, which was hired in August 2012 to provide design, engineering, project management and construction management services for the statue. State Finance Minister Saurabh Patel announced a fund of Rs 500 crore for the project in the 2014-15 Budget other than Rs 100 crore allocated in the 2012-13 Budget.
'We're well-acquainted with smartphones and smart cards, but what do we really know of smart cities - 100 of which the finance minister has promised at a cost of Rs 7,060 crore? Is it one of Arun Jaitley's smart-aleck phrases to appease a set of aspiring urban geeks, or just another castle-in-the-air that budgets with shaky foundations are built on?
Analysis of the keywords in the Finance Minister’s Speech. Investment and growth are repeated 34 and 31 times respectively. Social security, food security are barely mentioned.
"It was business as usual in 2013-14. Business with a capital B. This year’s budget document says we gave away another Rs. 5.32 lakh crores to the corporate needy and the under-nourished rich in that year. Well, it says Rs. 5.72 lakh crores but I’m leaving out the Rs. 40 K crore foregone on personal income tax since that write-off benefits a wider group of people. The rest is mostly about a feeding frenzy at the corporate trough. And, of course, that of other well-off people. The major write-offs come in direct corporate income tax, customs and excise duties...
"Arun Jaitley’s budget speech was the longest, at least in recent memory. But then it was the first major policy statement of Modi government and the finance minister had to showcase its economic vision address expectations of various electoral constituencies which voted for the new regime. Economics aside, the budget had one other key element, i.e. cultural nationalism.
"Finance Minister Arun Jaitley has set aside Rs. 200 crores in Budget 2014 for a giant statue of Sardar Vallabhbhai Patel in Prime Minister Narendra Modi's home state Gujarat. That is more than the new government's allocation for women's safety - Rs. 150 crore for the safety of women in cities and Rs. 50 crore for their safety on public transport. Rs. 100 crore has been set aside for the "Beti Bachao, Beti Padhao" scheme for the girl child.
"The government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy. The privatisation target could reach 700 billion rupees, almost equal to all proceeds over the last four years, in a budget Prime Minister Narendra Modi hopes will launch the growth and jobs agenda that in May won him India's biggest election mandate in three decades. The budget is due on Thursday.
