-The Business Standard Says it ensured more inclusive growth here, with better paying jobs, compared to NDA govt's record The perception that more jobs were created during the 1998-2004 National Democratic Alliance government than that of the Congress-led United Progressive Alliance (UPA) isn't based on facts, said Jairam Ramesh, the minister for rural development. From projections based on a National Sample Survey Organisation (NSSO) study, 60 million jobs were created between 1999-2000 and...
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Who foots the huge dole for business? -Latha Jishnu
-Down to Earth Bad loans of public sector banks to business are more than double the food subsidy There are some things you simply do not do in the liberalised economy. You do not put bank loans under the lens-unless these are ballooning out of control. That is, until such loans are likely to jeopardise the entire banking system and send the economy into a tailspin. And there's another thing: you don't...
More »Giving agriculture its due
-The Hindu There are obviously several dimensions to India's recent agricultural performance which Finance Minister P. Chidambaram in his budget speech termed as "stellar". A week before the budget, Agriculture Minister Sharad Pawar had announced that foodgrain production is on course to touch a new record of 263 million tonnes, up from 255.36 million tonnes last year. The good performance is seen with regard to other crops too. Estimates of...
More »Food subsidy can fill poverty gap, twice-Puja Mehra
-The Hindu Union Finance Minister P Chidambaram's estimate for India's 2014-15 food subsidy bill of Rs 1,15,000 crore in the interim budget is more than twice of India's Poverty Gap, or the cost of pushing all households above the poverty line if cash transfers were used instead. The Poverty Gap for India, as per the latest NSSO Consumption Expenditure Survey data available (for the year 2011-12) is Rs. 55,744 crore. A...
More »Big car error
-The Business Standard Interim Budget's partiality to sports utility vehicles The interim Budget's decision to cut the excise duty on sports utility vehicles, or SUVs, from 30 per cent to 24 per cent will certainly benefit car makers (they have already reduced their price tags), but it raises some pertinent questions. Last year, while presenting the Budget for 2013-14, Finance Minister P Chidambaram had raised the duty on SUVs from 27 per...
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