ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Human CapitalSubscribe to Human Capital

Budget 2021–22

In the context of the pandemic, we evaluate budget 2021–22 and its six-pillar framework. We found lack of clarity as regards allocations under each of the pillars, and hence we undertook to group ministry-wise allocations under each of the pillars. This categorisation was even more liberal than the one that the finance minister herself spelt out. Despite that, we find that the budget fell short of what was required for problems facing the Indian economy.

 

Life Cycle Concerns:Ineffectively Addressed

The lifetime concerns of individuals, though a key focus of the Budget for 2003-04, are nevertheless addressed in such a way that human capital - the engine of growth - will not be accumulated in an equitable or efficient manner.

Development under Imperfect Markets

Development Microeconomics by Pranab Bardhan and Christopher Udry; Oxford University Press, Oxford; 1999, pp vi+242, Rs 425.

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