Budget 2023-24: Ignoring the economy's
basic problem*
Feb 6th 2023, Prabhat Patnaik
The
most outstanding feature of the Indian economy today
is the sluggish increase in real consumption expenditure.
Between 2019-20 and 2022-23 for instance the per capita
real consumption expenditure has grown by less than
5 per cent which is less than the rate of growth of
the gross domestic product.
*
This article was originally published in the Peoples
Democracy on February 5, 2023.
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