-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...

-The Financial Express The Indian success story increasingly looks like a tale of naivety and optimistic complacency. The Indian success story increasingly looks like a tale of naivety and optimistic complacency, with the fantasy of ‘India Shining' obfuscating the reality of widespread deprivation. Despite rapid economic growth during the past decade, millions continue to live in poverty and hunger. The Indian government aims to address abject hunger and malnutrition with the National Food...

-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...

-Outlook As government seeks to roll out the food law, Finance Minister P Chidambaram today sought to raise total subsidies on fuel, food and fertilisers marginally to over Rs 2.46 lakh crore in the 2014-15 fiscal. Government has increased the food subsidy by a whopping Rs 23,000 crore to Rs 1,15,000 crore for 2014-15 fiscal mainly for implementation of the National Food Security law. According to the interim Budget proposals, subsidy bill on...

-Outlook Following are the highlights of interim budget 2014-15: Income tax rates kept unchanged 10 pc surcharge on 'super-rich' having annual income above Rs 1 crore to continue 10 pc surcharge on domestic corporates with income of Rs 10 crore Foodgrain production estimated at 263 million tonnes in 2013-14 Fiscal deficit at 4.6 pc in 2013-14...