Believe it or not, the total revenue foregone in 2017-18 on account of special tax rates, exemptions, deductions, rebates, deferrals and credits -- broadly termed as 'tax expenditures' (an indirect subsidy) – that was given to corporate taxpayers has been more than 50 percent of the expenditure incurred by the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) altogether in that year. In other...
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Despite having a food security legislation, spending on food subsidy is low
Recent data from the National Family Health Survey-4 (NFHS-4) shows that about one-third of children in India is undernourished – 35.7 percent children below 5 years are underweight (too thin for age), 38.4 percent are stunted (too short for age) and 21.0 percent are wasted (too thin for height). It is also revealed that the level of anaemia among women and girls (aged 15-49 years) has stagnated marginally over the...
More »Hard reality and political compulsions may force a rural-focused budget
Budgetary allocation to a particular sector indicates how much priority the government assigns to that sector as compared to the rest. A preliminary analysis by the Inclusive Media for Change team indicates that the actual expenditure (net of receipts and recoveries) by two of the country’s most important ministries, namely the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) was less than 1 percent...
More »Diesel price at all-time high as crude oil surges in international markets -Gireesh Chandra Prasad
-Livemint.com Diesel price touched Rs.61.74 a litre in Delhi, while petrol hit Rs.71.18 a litre, the highest since 1 August 2014 New Delhi: Diesel price rose to an all-time high on Monday as crude oil price continued to advance in global markets, impacting India’s oil import bill and inflation. Diesel price touched Rs61.74 a litre in Delhi, while petrol hit Rs71.18 a litre, the highest since 1 August 2014, according to information provided...
More »Agriculture ministry differs with CSO over estimated growth of farm sector
The Ministry of Agriculture and Farmers Welfare has contended that the growth in real Gross Value Added (GVA) by the agrarian sector will not decline in 2017-18 vis-à-vis 2016-17 as has been predicted by the Central Statistics Office (CSO). The first advance estimates of CSO show that the growth rate in GVA at basic price (at 2011-12 prices) of the 'Agriculture, forestry & fishing' sector is likely to dip from 4.9...
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