Most of us don’t even get a single shot at making history — Manmohan Singh has a second chance The fiscal deficit is an outcome, not a policy. It is the net resolution of the policies pertaining to taxes and expenditure. It is worth analysing separately the two components of the deficit. The table reports the results of relating the tax and expenditure share of GDP to per capita income for...

-PTI Faced with subdued revenue mop-up and rising fiscal deficit, Finance Minister Pranab Mukherjee today said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12. "As Finance Minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," said Mukherjee, who is engaged in the process of firming the Budget for 2012-13...

When all failed, a police lathicharge did the trick. Farmers of Akaltara village were protesting against land acquisition for a month, but only after the police beat them up and arrested 78 men on a cold January evening, that things heated up. Opposition leaders rushed to the site and the government was forced to react. From Rs 8 lakh, compensation rates were hiked to Rs 17 lakh per acre. The...

-The Times of India   A Elayaraja (30), an RTI activist from Thirugnanasambanthan village, Sirkazhi in Nagapattinam district, has filed a complaint with the state director general of police and the chief minister's special cell, asking for police protection from S Ravi (40), president of Alalasundaram panchayat under which Elayaraja's village falls. In his complaint, Elayaraja has alleged that panchayat president S Ravi (40) is threatening him and his family members...

The current perception that cash transfers can replace public provision of basic goods and services and become a catch-all solution for poverty reduction is false. Where cash transfers have helped to reduce poverty, they have added to public provision, not replaced it. For crucial items like food, direct provision protects poor consumers from rising prices and is part of a broader strategy to ensure domestic supply. Problems like targeting errors...