The Karnataka Budget

After the meetings on the "Media on Terror" report which resulted in the work of the fact-finding team being published and distributed (you can view it as a pdf on the right-hand side panel), Column 9 moved on to discuss the Karnataka budget.

Shivasunder had extensive research on the Medium Term Fiscal Policy Act, by which the Karnataka government was bound to act in certain pre-ordained ways by the World Bank and the IMF. New Chief Minister Yeddyurappa may have made several promises to farmers and commited to reforms and sops... but how could he deliver when his Government was actually tied down by the loans it took from international institutions several years ago? The conditions under which these loans were taken allowed the big banks enormous control over how Karnataka would develop - in effect it is they who decide what kind of 'progress' the State will charter.

Column 9 had a series of meetings on this issue which analysed the current Karnataka budget and then wrote out an academic article which is awaiting publishing. If you would like a copy, write us! - column9@gmail.com