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...

The latest round of data on the 2011 Census shows that the country is exhibiting distinct signs of trading up as material living conditions improve for large sections of the population. Although this aggregate picture is not uniform across the country, analysts believe that the upward material mobility in society is creating the basis of a new consumer boom in the economy—serving up a perfect backdrop ahead of the presentation of...

-PTI The Government today said it is likely to table a White Paper on black money during the ongoing Budget Session of Parliament, but maintained that there is no authentic estimate of the quantum of illicit wealth. "The white paper is likely to be brought during the Budget Session," Minister of State for Finance S S Palanimanickam informed the Rajya Sabha in a written reply. The White Paper is expected to contain information...

Ten years after the killings in Gujarat, Narendra Modi has neither expressed regret nor has he been held accountable for those mass deaths. Where do we go from here? Anand Teltumbde (tanandraj@gmail.com) is a writer and civil rights activist with the Committee for the Protection of Democratic Rights, Mumbai.   Just thinking of it, a shiver runs down my spine. I had my own brush with how the Hindutva gangs carried out the...

A bidi-smoking petty contractor who suddenly bought two Boleros and a former newspaper hawker who zipped about Chhattisgarh’s jungles in a Toyota may hold the key to a question bugging the custodians of national security. What the police want to know is: are business houses paying off the Maoists to be able to operate deep inside central India’s mineral-rich guerrilla zones? Chhattisgarh police say that when contractor B.K. Lala’s bank account suddenly...