Finance Minister Pranab Mukherjee on Thursday countered the Opposition attack that the government's policies resulted in price rise and said the steps it took resulted in food inflation coming down. Replying to the debate on the motion on price rise, he said additional revenue measures were also taken to bring down the Fiscal Deficit and keep the economy in a better shape. The Rajya Sabha later unanimously adopted the motion: “This House...
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Must cut dependence on debt, reduce subsidies: PM
Prime Minister Manmohan Singh said on Saturday that the country needed to cut down on its dependence on debt to finance its developmental programmes and find ways to reduce the current level of subsidies. "The financing of the plan expenditure has depended far too much on debt. This must change," said Singh while addressing a meeting of the National Development Council (NDC), the country's top policy forum. To fund its...
More »Lessons from America & beyond by Biraj Patnaik
The National Advisory Council, led by UPA chairperson Sonia Gandhi, has come up with the muchawaited contours of the National Food Security Act. The NFSA, it is hoped, will become India’s flagship programme for tackling hunger and malnutrition, equal in scale and vision to the ambitious and highly successful Fome Zero Programme launched by President Lula Da Silva in Brazil. The UPA government is also hoping that the NFSA will...
More »Poverty haunts India's economic miracle
When flames from an open cooking fire raced through Fida Hussein's shack in northern India, it was a disaster for him and his poverty-stricken family. "We have nothing," said Hussein as he stood in the ruins of his hut through which the sky could be seen between the burnt roof timbers in a remote corner of Uttar Pradesh, India's most populous state. India's number of millionaires grew by 51 percent...
More »Poor Performance by SL Rao
India is incredible (after shining), with the fastest growth rate, an emerging demographic dividend and innovative brains for the globe. But the vast majority in rural India — employed in agriculture, small-scale and tiny industries, self-employed, and with no assets — does not find it so. This government, claiming inclusive growth for the grossly deprived and poor, has not taken actions to bring down prices of essential food items, unprecedented...
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