Most of us don’t even get a single shot at making history — Manmohan Singh has a second chance The fiscal deficit is an outcome, not a policy. It is the net resolution of the policies pertaining to taxes and expenditure. It is worth analysing separately the two components of the deficit. The table reports the results of relating the tax and expenditure share of GDP to Per capita income for...

-PTI India has become the fourth largest economy in the world because of strong economic growth but still has a low Per capita income, the Economic Survey for 2011-12 said Thursday. “India has emerged as the fourth largest economy globally with a high growth rate and has improved its global ranking in terms of Per capita income. Yet, the fact remains that its Per capita income continues to be quite low,” it...

-The Financial Express BSP supremo Mayawati may have lost the Assembly elections in Uttar Pradesh but the defeated chief minister's wealth as declared has jumped to Rs 111 crore, a 25 per cent increase in the last two years. And 56-year-old Mayawati's assets made public today has doubled in the five years since she became chief minister in 2007 on the back of a thumping BSP victory. During public meetings, she often...

In a landmark decision that could set a precedent on how life-saving drugs under patents can be made affordable, the government has allowed a domestic company, Natco Pharma, to manufacture a copycat version of Bayer's patented anti-cancer drug, Nexavar, bringing down its price by 97%. In the first-ever case of compulsory licencing approval, the Indian Patent Office on Monday cleared the application of Hyderabad's Natco Pharma to sell generic drug Nexavar,...

-The United Nations   Global tea prices are set to stay strong through 2012, with demand driven by growth in Asia, according to the United Nations Food and Agriculture Organization (FAO). The agency’s Intergovernmental Group on Tea says that the high price of tea, which averaged $2.85 per kilogram in 2011, reflects the fact that demand for black tea – accounting for most of world production – has exceeded supply since 2009. The Group,...