The finance ministry is betting on substantial savings in some of the flagship social schemes and lower commodity prices to stay within the year's fiscal deficit target even as the central bank and economists raise the red flag over the Centre's finances. India's fiscal deficit, or the difference between expenditure and receipts that has to be met through borrowings, during the first four months jumped to 55% of the budgeted amount...

-The Economic Times   Prominent activist and key Anna associate Arvind Kejriwal claimed the income-tax notice asking him to pay dues of 9 lakh to the government is prompted by "political bosses" and without merit. The notice was slapped on him in August, days before Anna started the second round of his indefinite anti-graft hunger strike. The I-T notice and related developments threatened to deteriorate into yet another nasty row between Team Anna and...

-ANI   Defending the Central Government, Union Law and Justice Minister Salman Khurshid has clarified that the notice issued by the income tax department to civil society activist Arvind Kejriwal was not an act of vendetta. "Please do not see this as an act of enmity with Arvind Kejriwal. The government respects all those who are trying to bring about a change in the country and spread awareness and enlighten the people of...

-The Times of India   The government on Saturday released a list of assets owned by Union ministers. Urban development minister Kamal Nath and his family top the charts with a net worth of over Rs 263 crore. Prime Minister Manmohan Singh's holdings are a little over Rs 5 crore. At the bottom of the pile is the low-profile defence minister, A K Antony, who claims he has a paltry Rs 1.8 lakh...

-The Telegraph   The Comptroller and Auditor General has found gross deficiencies by the food and supplies department when the Left was in power in Bengal. The CAG report for 2009-2010 says the state food and supplies department could not claim central subsidy worth Rs 133.66 crore as it failed to furnish annual accounts of the public distribution system for the period 2005-2010. The report also says the finance department, through which the Centre...