Budget 2019-20: An appraisal

The proposed budget 2019-20 now under debate in the national parliament provides a positive continuation of the growth-development success story of the decade 2009-2018. The gross domestic product (GDP) growth rate of 8.2 per cent and the projected inflation rate of 5.5 are realistic. The budget makes a projection of...

Challenges democratic governments face: How to renew the social contract

The success of Western-style democracy after World War II was based on national social contracts: citizens paid taxes, and the state provided the conditions for steady economic progress, along with secure jobs, a social safety net, and redistributive policies that narrowed the income gap between owners and workers. Although the...