-The Business Standard Scheme faces pincer attack with a proposed higher proportion of expenditure on material, reducing the budget available to pay wages The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) faces a pincer attack under the National Democratic Alliance (NDA) government, with parallel moves promising to shrink and mutate the nature of the scheme. Two of the moves have been revealed - a proposed higher proportion of expenditure on material,...

-The Business Standard The NDA is looking to reduce fiscal deficit not by chopping social sector spending but by paring it down Finance Minister Arun Jaitley is fairly confident the government will meet this year's fiscal deficit target. At 4.1 per cent of gross domestic product the deficit looked looked like a bit of stretch in July but the food subsidy, for one, is not going to balloon as in previous years. The...

-TheGoan.net As had been anticipated, on October 18, the Cabinet Committee of Economic Affairs chaired by Prime Minister Narendra Modi decided to decontrol the prices of diesel, the most widely-used petroleum product in the country. Riding on an unexpected fall in world prices of crude oil, the government was able to simultaneously announce a sharp fall in consumer prices of diesel by Rs 3.37 per litre (in Delhi). But the decision...

-The Business Standard   NC Saxena, a former member of the National Advisory Council believes that the regulatory regime in the states continues to be oppressive. In an e-mailed interview with Aditi Phadnis, Saxena says that the fundamental problem in India is the low tax-GDP ratio and neither the last government nor the current one seems interested in increasing revenues. Edited excerpts: * The new government appears to be watering down a lot...

-The Hindu ‘The government has taken steps to destroy MGNREGA, an act that gives purchasing power to the rural poor, following prejudicial contentions of Bharatiya Janata Party leaders' It's no secret that the Bharatiya Janata Party (BJP) does not like the Mahatma Gandhi National Rural Employment Guarantee Act. MGNREGA is perhaps the only law in the world which guarantees 100 days of wage employment a year to one member of a rural...