-The Times of India The finance minister Pranab Mukherjee in his Budget speech said that efforts were on to arrive at a political consensus on the issue of allowing 51 per cent Foreign Direct Investment (FDI) in multi-brand retail. The retail sector of the economy has been constantly pushing for allowing foreign direct investment (FDI) in multi-brand retail. The Economic Survey 2011-12 also advocated the case for FDI in multi-brand retail. The much-talked about...

-The Business Standard   Major subsidies extended by the government are likely to jump to Rs 1,34,411 crore during 2011-12 The Survey has warned of deteriorating fiscal health due to a mounting subsidy burden. The huge outgo over the past year has been largely on account of the global rally in crude oil prices, the fertiliser subsidy and state-controlled foodgrain prices, it said. It also blamed ‘coalition politics and federal considerations’ for holding...

Finance minister Pranab Mukherjee ushered in a regime of cash transfers for the payment of subsidies for food, fertilizers and kerosene, along with social welfare payments, by accepting the recommendations of a panel headed by Nandan Nilekani, chairman of the Unique Identification Authority of India. The recommendations, submitted last month, had prepared a blueprint for transferring cash directly into the bank accounts of the beneficiaries by linking these to their unique...

-PTI Expressing concern over price rise in fruit and vegetables, the government today said it will focus on addressing the issue by bringing more area under horticulture as well as raising productivity levels.  "We are more or less comfortable in cereal production. The growth rate in horticultural and animal products is good and better than cereals. But we see price rise in horticulture commodities. This is the area of concern," Agriculture Secretary...

India's use of the compulsory licensing provision under its patents law for the first time to make the patented cancer drug Nexavar available at affordable prices is an essential, although belated step to curb the mounting cost of drugs. The grant of the licence by the Controller-General of Patents, Designs and Trade Marks to Natco Pharma for manufacture of the drug Sorafenib Tosylate (Nexavar) to treat liver and kidney cancer is...