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Don't Let Policy Stasis Set In

  Don’t Let Policy Stasis Set In Subhash Chandra Garg* This piece has also been published by Quint  https://www.thequint.com/voices/opinion/budget-2022-has-the-bjp-govt-completely-given-up-on-policy-reforms  with the title  Budget 2022: Has the BJP Govt Completely Given Up on Policy Reforms? Budget 2022 conspicuously quite on economic and financial reforms Budget 2022 did not propose any significant economic, financial and taxation reforms measure. This was quite telling, especially against the backdrop of NDA government’s budgets of last few years, which were full of policy initiatives. The Budget 2022 did not talk about real progress and issues in implementing any of the major policy initiatives announced in Budget 2021- privatisation of banks and insurance companies, monetisation of assets, reforms of agriculture and food economy, labour reforms, opening up foreign investment and so on.   My fears expressed in an earlier piece https://www.thequint...
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There is no Real Capital Expenditure Increase of Rs. 2 lakh crore in Budget 2022-23

                                        Capex Increase Riddle in 2022-23 Budget Lost on roundabouts what was gained on wings   Subhash Chandra Garg Author, Economic Policy Strategist & Ex-IAS Also, former Economic Affairs and Finance Secretary, Government of India   This blog has been published by the Wire    https://thewire.in/economy/nirmala-sitharaman-capex-boost-budget-2022 with a title of their choice-  How Nameplate Changes, Sleight of Hand Helped the FM Assemble Budget 2022’s ‘Big Capex Boost’.  Finance Minister announces massive increase of 35.4% in central government capex outlay With no other major growth investments or policy reforms in the budget, Finance Minister Nirmala Sitharaman made capital investment the lynchpin of Government’s growth strategy in Budget 2022. Stressing that “the virtuous cycle of investment requires ...
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Are cryptocurrencies harbinger of official digital currency and the blockchain revolution in the world?

  CRYPTO-CURRENCIES HARBRINGER OF DIGITAL CURRENCY AND BLOCKCHAIN REVOLUTION   SUBHASH GARG Economy, Finance and Fiscal Policy Strategist and Former Finance Secretary, Government of India   BITCOIN TO OFFICIAL DIGITAL CURRENCY Metallic and paper currencies are on their way out ‘Anything of value’ acceptable to the buyers and sellers of goods and services for settling the value transferred in the transaction can acquire the status of currency. While the value of a good or service bought and sold may differ in the perception of the buyer and seller, the value of currency which is exchanged to pay for the transfer of value in good or service is same for both. For anything to work as currency for transfer of value (the medium of exchange function of the currency), its own value should remain same or constant to measure the value of every other good or service (the unit of account function of the currency). There have been three distinct types of currency m...
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