-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
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Lost livelihood -Harsh Mander
-The Hindu The Adivasis of Central India, who settled in the tea gardens of Assam decades ago, are still devoid of their basic rights. The even greater tragedy of the coordinated murderous December 23, 2014, attack on unarmed Adivasi forest dwellers in Assam, which left dead more than 70 people including children and women, is that the assault targeted one of the most oppressed and dispossessed communities in that entire region. A meticulously...
More »Modi government accepts Finance Commission recommendations, states to get 42% share in central taxes
-The Times of India NEW DELHI: The Modi government said on Tuesday that it has accepted the recommendation of Finance Commission to raise the share of states in central taxes to 42 per cent from current 32 per cent. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26 lakh crore in 2015-16. "The higher tax...
More »Enhancing PESA: The Unfinished Agenda -Kamal Nayan Choubey
-Economic and Political Weekly Amendments proposed by the previous Congress-led union government to the Panchayat (Extension to Scheduled Areas) Act 1996 had the potential of improving upon this progressive legislation. Unfortunately, with its successor pursuing different priorities, the possibility of the amendments being passed remains rather low. Kamal Nayan Choubey (kamalnayanchoubey@gmail.com) is with the Nehru Memorial Museum and Library, New Delhi. A bill for an amendment to the Panchayat (Extension to Scheduled Areas)...
More »These rancid rankings -Shamnad Basheer
-The Indian Express "If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to recommend instituting one." So said Fritz Machlup, a wise American economist several decades ago. His words remain as true now as they were then. For, the patent system is one of the most faulty legal regimes that one could possibly have conceived. It purports...
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