Yesterday the Finance Minister Nirmala Sitharaman presented the Union Budget for 2025-26. It was her 8 th consecutive Budget and was presented amongst great expectations from the people. It was hoped that the NDA Government led by the Hon’ble Prime Minister Narendra Modi would come up with some concrete policies to help the country emerge from the current challenges it faces. The Economic Context The Union Budget was being presented at the backdrop of acute unemployment, rising inflation, rural distress, decline in manufacturing, stagnant incomes and declining savings. Data from the Centre for Monitoring Indian Economy (CMIE) shows that in 2022-23, youth unemployment was at 45.4% 1 . A study of the International Labour Organisation notes that graduates had an unemployment rate of 29.1% 2 . The Labour Force Participation Rate in rural areas increased from 24.6% in 2017-18 to 47.6% in 2023-24. While the increase in LFPR is good, we must not ignore that more women participation in ru...
A collection of personal views on contemporary issues