In the first instance of Maoists targeting foreigners, two Italian tourists were abducted in the forests bordering Orissa's Kandhamal-Ganjam districts. The kidnapping came to light late on Saturday night after the Maoists released two men abducted along with the Italians, Bosusco Paolo and Claudio Colangelo.  The Maoists claim the four were kidnapped on March 14. This came to light only after the release of Sontosh Moharana and Kartik Parida with audio...

-The Business Standard In Budget, reformers win, NAC loses The consensus opinion that has developed about the 2012-13 Budget presented by Finance Minister Pranab Mukherjee on Friday is that it was unambitious, especially in terms of reworking government spending. It delivered little in terms of a vision for reform, the argument goes, constrained as it was by the spending-hungry allies in the United Progressive Alliance (UPA) and the entitlement-hooked Congress leadership. A...

-The Hindu The Central Bureau of Investigation told the Supreme Court on Friday that the killings of Cherukuri Rajkumar alias Azad, spokesperson of the Communist Party of India (Maoist), and journalist Hemchandra pandey by the Andhra Pradesh police on the night of July 1, 2010 were not a fake encounter as alleged in the petitions filed in the court. The CBI made the submission in its final investigation report filed before a...

In this year's budget, Union Finance Minister Pranab Mukherjee has essentially tried to consolidate the gains from the initiatives he had launched during the previous two budgets. Thus, in agriculture there is no new initiative except increasing the target for agricultural credit to Rs.5,75,000 crore during 2012-13. This represents an increase of over Rs.1,00,000 crore from last year. The interest rate of four per cent recommended by the National Commission...

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...