Govts can't create jobs

The less they focus on employment creation, the better it may be for the economy

One of the problems created by giving the Union Budget such high media billing is that it enhances public expectations about what governments can or should do. It is a pity that even economists have fallen prey to this belief that governments can do a lot, as we saw two years ago when demands were made to spend up to 10 per cent of gross domestic product (GDP) to support a Covid-ravaged economy. We must be eternally grateful for the fact that the Narendra Modi government largely ignored their advice and stuck to moderate relief and economic support. One hopes