-The Economist Government borrowing generates inflation, widens the external deficit and crowds out much-needed investment. Can India now overcome its debt addiction? INDIA has grappled with its public finances for long enough. When presenting its first budget after independence in 1947, the finance minister of the day insisted that the country was not living beyond its means. Yet every budget since has failed to produce a surplus. India borrows more heavily...

-Outlook UPA’s populist trumpcard of 2008—the farm loan waiver—has fallen short of its intended target, as a CAG audit throws up The Scheme     2008 Union finance minister P. Chidambaram announces farmer debt waiver and relief scheme in budget; PM Manmohan Singh writes to beneficiaries “seeking their support”     Rs 52,275 cr Total money that was disbursed to eligible farmers across the nation as part of loan waiver scheme     Rs 50,000 The loan...

-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...

The total expenditure on central schemes for the poor and on the major subsidies exceeds the states' share of central taxes. These schemes are chronic bad performers due to a culture of immunity in public administration and weakened local governments. Arguing that the poor should be trusted to use these resources better than the state, a radical redirection with substantial direct transfers to individuals and complementary decentralisation to local governments...

-The Economic Times The government has done well to scale down the initial reach of the direct cash transfer system of handing out subsidies. Direct benefit transfer (DBT), as it is called now, will cover only 20 districts and seven scholarship schemes instead of 51 districts and 34 schemes planned earlier. Limiting coverage makes eminent sense. It is better to do a thorough job than to fumble at a mammoth task,...