economics

GST was a huge bargain when States gave up their rights to collect sales tax while the Centre gave up excise and service tax. Australia also shares the GST anniversary with us where the rates have been constant at 10%. Thus, a single rate in India can be a huge reform, and a matter of discussion too! But there is an urgent need for structural reforms in GST, in order to be a leading economy.

All economies should focus on self-sufficiency where they can provide for all without any dependence on external sources. This change in priorities of the neoliberal order will remove all the internal fractures in it like poverty, over exploitation of the environments, unemployment, disease and other internal conflicts over scarce resources.

We will have to understand economics in right perspective as Arthshastra which originated in India. The primary focus of which was human happiness index and was largely successful for many centuries without huge recession.

The policymakers have to play a significant part in relaxing the restrictions in such a manner that at the one end, steepness of crisis is brought to baseline while on the other end; economic functions are alleviated with proper credit security by the government.

India needs to join the US, Australia, and Japan to call out and penalize China for transparency in handling the outbreak.

With slump in tourism and locals coming back to state, will Kerala model be able to survive?

Many countries are waking up to the realization that dependence on China is unreliable, and not in the interest of them and thus should reduce.

The champions of new global order, claim globalization to be a panacea for every ill that our society is facing but they fail to take into consideration the local conditions, the glaring levels of poverty, the extreme form of malnutrition and rigid work cultures that still haunts a significant chunk of the world population.

Chanakya had written this in the 12th century, about 2000 years before Smith’s The Wealth of Nations. It will not be wrong to claim that Chanakya founded ‘economics’ much earlier than Smith.

The Pakoda stall concept of mini business model example given by the PM, to boost self employment through small and mini enterprises becomes very relevant and meaningful than NYAY which seeks to tackle poverty through legislation.