Indian Budget in times of National emergency
Recently, Central and State Governments have started cutting salaries, pensions and other benefits of Govt employees and pensioners. These policies are direct result of Central Govt decisions - cutting salary of Central Govt employees and not disbursing adequate funding to States in this times of crisis. State Governments which are revenue constrained have no choice other than to implement salary cuts policies. How to best describe these Austerity policies implemented by Central Government? Its like this - Central Govt has absolutely no clue on policy making in times of Covid-19 crisis. But to give an impression that they are doing something, they are taking these senseless decisions of salary and pension cuts. Indian Economy in massive contraction - Unprecedented Macroeconomic uncertainty - Collapse of Revenue and Tax Collection The situation with economy is critical. There is a massive slowdown in economy due to lockdown as businesses, factories and services by private as we...