A rural Indian spending Rs. 22.50 a day would not be considered poor by a Planning Commission whose Deputy Chairman's foreign trips between May and October last year cost a daily average of Rs. 2.02 lakh Pranab Mukherjee's stirring call for austerity tugs at the national tear ducts. Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the Finance Ministry even...

-The Times of India The government's white paper on black money, tabled in Parliament on Monday, listed a one-time tax amnesty to recover funds stashed abroad and a gold deposit scheme for locals as possible ways to deal with the menace, while suggesting that individuals get the tax department's go-ahead for all property deals and face undue scrutiny on cash in their possession. It also called for setting up of independent regulators,...

-The Economic Times The Supreme Court has upheld the constitutional validity of the Right to Education (RTE) Act. Constitutional validity does not mean sense - after all, being stupid is not illegal. Public opinion is most exercised about all schools, even those that get no aid from government, being asked to provide 25% of their seats free to poor students.  The court has pronounced this a blow for affirmative action. Private schools...

-The Telegraph   No one can accuse the Bengal government of mixing the personal with the professional — even when it comes to reading habits. “Believe me, Anandabazar Patrika, The Telegraph and Bartaman are among my favourite newspapers,” state mass education and library services minister Abdul Karim Chowdhury said today. Newspapers should be wary of unalloyed praise from those in power but Chowdhury’s statement stands out because of a curious detail that testifies to...

Token relief to individual taxpayers will cost the exchequer Rs. 4,500 crore In a “pragmatic and domestic growth-oriented” budgetary exercise aimed at shoring up investor confidence and investment, Union Finance Minister Pranab Mukherjee on Friday sought to tap indirect taxes, especially service tax, to rake in an additional Rs. 45,940 crore into his kitty. Presenting the budget for 2012-13 in Parliament, Mr. Mukherjee provided a token relief to individual taxpayers that will cost...