Capitalism with a Human Face: India's experiment

India's finance minister has unveiled an "anti-poverty" budget that raises spending on health, education, and rural infrastructure.  Many economists, of course, can tolerate deficit spending on such items if they produce long-term economic returns from a more productive populace.  Here's the BBC report (This development doesn't seem of interest to the American press, but the Brits seem to care: it was also reported on in this week's Economist.)  With an economist Prime Minister, India seems unlikely to make too grave a mistake in spending in this manner.