Finance minister Pranab Mukherjee took on the food ministry and publicly backed UIDAI chairman Nandan Nilekani's proposal to set up a new independent agency manned by professionals to computerise the public distribution system (PDS) as part of the reforms agenda and use the Aadhaar number as a base for the changes. Mukherjee was speaking at the meeting of state agriculture and food ministers in Delhi on Wednesday. TOI had earlier reported how...

-The Telegraph   The proposed food security law may not succeed unless the government revamps the public distribution system (PDS) and creates back-up infrastructure, Sharad Pawar said today about the bill seen as a Sonia Gandhi pet project. “I will be failing in my duty if I do not emphasise the food security act will never succeed in achieving its goals in letter and spirit if we try to push the same through...

-PTI Faced with subdued revenue mop-up and rising fiscal deficit, Finance Minister Pranab Mukherjee today said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12. "As Finance Minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," said Mukherjee, who is engaged in the process of firming the Budget for 2012-13...

-The Economic Times   The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone.  But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...

-The Business Standard   Its guarantee of non-duplication can have far-reaching cost benefits but it has deep design flaws that can be compromised. PRAVEEN CHAKRAVARTY Former Volunteer, Financial Inclusion, UIDAI* “Aadhaar is an unadulterated identity programme that answers the question: Is the individual who he or she claims to be?”   The word “unique”, and not “identity”, is central to the unique identity programme or Aadhaar. It may be true that the vast majority of people possess some...