WHEN the Goods and Services Tax was introduced, and the states virtually gave up the power to levy indirect taxes which they had enjoyed under the constitution, the centre had solemnly promised that it would compensate them for a period of five years for any revenue shortfall arising from the shift to GST. The shortfall was to be assessed relative to what revenue should have been, assuming a 14 per cent rate of growth. It is this promise which had persuaded many states to fall in line behind the GST.

THE BJP as we know is a Hindu-supremacist party. It is the political front of the Rashtriya Swayamsevak Sangh, a fascistic organisation which believes in establishing a Hindu rashtra. Though the BJP itself cannot openly espouse this vision because of its need to remain within the four corners of the constitution, it is trying its best to realise this vision de facto. But what does a Hindu rashtra really mean? The fact that it entails the subversion of secularism and the reduction of the Muslim minority, in particular, to the status of second class citizens, is clear.

IN a document like the New Education Policy, one must distinguish platitudes from new provisions, including within the latter even the dropping of old platitudes. Thus phrases like “education is a public good”, “6 per cent of GDP should be earmarked for education” are just platitudes, unless some concrete suggestions are advanced to realise to them.

I HAVE written about this in the past, but since bad economics comes thick and fast from the representatives of finance capital, especially the Bretton Woods institutions located in Washington DC, there is no harm in my repeating myself.

The issue relates to a fiscal deficit and has acquired urgency at present because revenues of governments everywhere in the world, including India, have declined owing to the pandemic-induced lockdown, while the need for government spending on relief and healthcare has escalated steeply, necessitating larger fiscal deficits.

WHAT had been only a suggestion by several prescient members of the capitalist establishment till now, has become official policy, at least in Britain where Prime Minister Boris Johnson has announced that his government will undertake public investment to stimulate the economy, as FD Roosevelt had done under the New Deal in the 1930s in the US. In fact, Johnson specifically referred to Roosevelt’s New Deal, and expressed his intention of increasing taxes on the rich if necessary.