Finance minister Pranab Mukherjee ushered in a regime of cash transfers for the payment of subsidies for food, fertilizers and kerosene, along with social welfare payments, by accepting the recommendations of a panel headed by Nandan Nilekani, chairman of the Unique Identification Authority of India. The recommendations, submitted last month, had prepared a blueprint for transferring cash directly into the bank accounts of the beneficiaries by linking these to their unique...

India’s rural hinterland is catching up with urban areas in the use of electricity as the main source of lighting, in access to banking facilities and tap water for drinking, bridging the old rural-urban divide. The housing, households amenities and assets census for 2011 once again showed that rural India is fast converting into a more urbanised society. “It is part of the process of development that areas left behind eventually...

The latest round of data on the 2011 Census shows that the country is exhibiting distinct signs of trading up as material living conditions improve for large sections of the population. Although this aggregate picture is not uniform across the country, analysts believe that the upward material mobility in society is creating the basis of a new consumer boom in the economy—serving up a perfect backdrop ahead of the presentation of...

Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...

Census sheds new light on changing nation Though half of all Indians do not have a toilet at home, well over half own a telephone, new census data released on Tuesday show. These and many other contrasting facts of life have come out in Census 2011. The data on housing, household amenities and assets cast new light on a country in the throes of a complex transition, where millions have access to...