The Supreme Court on Monday granted four weeks to the Centre to take a clear stand regarding a CBI probe into alleged misuse of funds allocated to the States. The court was dealing with a petition alleging misappropriation of funds under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in Orissa. In an interim order on the writ petition filed by the Centre for Environment and Food Security, a three-Judge Bench,...
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The Plumber Arriveth by Shubhashis Gangopadhyay
There was a lot of apprehension before budget day regarding what the Union finance minister will do to reduce the deficit. Will he roll back the tax concessions implemented a couple of years ago as part of a fiscal stimulus package? Will he announce populist social sector spending in view of the major state polls coming up this year? Will he be too timid and not take any bold steps...
More »Corporate socialism's 2G orgy by P Sainath
The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...
More »Bharat Nirman
Union finance minister Pranab Mukherjee has been able to convey the impression that the agricultural sector was a key area of policy focus for his budget, but just about. He has chosen some good policies and programmes to boost agricultural development, but has done so in a half-hearted manner. Whether the agricultural sector actually benefits from his attention remains to be seen given that he has been niggardly in the...
More »The siren song of cash transfers by Jayati Ghosh
Cash transfers cannot and should not replace the public provision of essential goods and services, but rather supplement them. Cash transfers are the latest fad of the international development industry, as the preferred strategy for poverty reduction. And now Indian policymakers are busy catching up. The idea was mooted in the Government's Economic Survey for 2010-11, and the Finance Minister made an explicit announcement in his budget speech for replacing some...
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