ON April 1, 2019, the ministry of finance issued a statement announcing the GST collections for March 2019, the last month of the financial year 2018-19. The statement celebrated what was supposed to be the highest monthly collection since the introduction of GST – Rs 1,06,577 crores. What was, however, left out of the picture was what this collection put the final seal on – namely, that GST revenues for 2018-19 are well below the figure projected even in the revised estimates (RE) presented in the union budget 2019-20 on February 1, 2019.

WHAT is happening in Venezuela today provides an object lesson on the nature of imperialist intervention in third world countries in the era of neoliberalism.

TIME was when the annual budget of the central government used to be a serious affair. It reflected no doubt the government’s class bias, but how exactly this class bias was expressed through the various budgetary proposals had to be established by scrutinising budgetary figures, which did signify something. There was always of course some window-dressing, but only at the fringes; the core of the budget was a matter for serious scrutiny. Such is no longer the case under the Modi government.