Opening the reply to the President's Motion of Thanks on behalf of the Left parties in the Rajya Sabha on Wednesday, Communist Party of India (Marxist) leader Sitaram Yechury, demanded the stopping of the “loot” of public money in the form of concessions to corporates and high-end taxpayers. This relief, worth several lakhs of rupees, should be used to narrow the rich-poor divide, he added. Calling upon the government to shift policy...

The budget session of the Parliament began with President Pratibha Patil’s address. All indications point to a normal functioning of this session, unlike the wasted winter session.  This is because the UPA 2 government has agreed to constitute a Joint Parliamentary Committee (JPC) to look into the 2G spectrum allocation scam. If the government were to have done this in the winter session itself, then precious time and resources would...

There was in fact a successful auction of spectrum — only it was not conducted by the government but by its Corporate Sector cronies who made a fortune on the deal. On one pronouncement of his, you have to agree with Prime Minister Manmohan Singh. His is not a ‘lame-duck government.' Cooked goose seems the more appropriate soubriquet. However, not a single new scam worth over Rs. 1 lakh crore has...

Continued poor performance of some key infrastructure sectors cause for concern As India is on the path of achieving 8.5 per cent economic growth, aiming to exceed the 9 per cent growth mark next fiscal, the biggest worrying factor that could derail this horse power of growth and play spoilsport in the “growth story” of the UPA II government is the poor state of infrastructure and its tardy pace of development...

The budget for the next fiscal is likely to step up the target for farm credit to 4,50,000 crore, up 20% from the current year's 3,75,000 crore. With the agriculture sector seen growing at 5.4% in the current fiscal, the government will push banks to disburse more to the sector to maintain the momentum, said a senior government official. The upheavel in the micro-finance sector will also necessitate greater lending by banks. "The...