-Live Mint High on hype, the budget speech of the Union finance minister today is merely a statement of account. As India’s economy diversifies—with the private sector playing an increasingly important role—this annual feature has assumed much lower salience. Not only have fiscal policies lost the space they enjoyed in earlier years, even major policy announcements are restricted to being mere statements of account. Examples from other arenas include “activism” on...

A global scramble for land and mineral resources fuelled by billions of investment dollars is threatening the last remaining wilderness and critical ecosystems, destroying communities and contaminating huge volumes of fresh water, warned environmental groups in London Wednesday. No national park, delicate ecosystem or community is off limits in the voracious hunt for valuable metals, minerals and fossil fuels, said the Gaia Foundation’s report, "Opening Pandora's Box". The intensity of the...

While welcoming the report of the High Level Expert Group on Universal Health Coverage for India for its comprehensive vision and many well-conceived recommendations, this article focuses on the conditions needed for its promise to bear fruit. Towards this, it explores the political dimension, which comprises the forces and interests that come into play to shape and reconfigure administrative policy and its implementation.   We are grateful to Anand Zachariah and Susie...

Dr Abhijit Sen is Member, Planning Commission of India. He is a Ph.D. in Economics from the University of Cambridge (currently on leave as Professor of Economics at the Jawaharlal Nehru University) and has also taught at the Universities of Sussex, Oxford and Cambridge. Besides serving various think tanks in the states and at the centre, Dr Sen has been a consultant with UNDP, ILO, FAO and various other multilateral...

The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...