-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...

-The Hindu Measures on urea, LPG, kerosene to go The Modi government is putting on hold its plans for some key economic reforms Union Finance Minister Arun Jaitley had announced in his maiden Budget last July. These include decontrol of urea prices, fewer subsidised cylinders a year and withdrawal of kerosene from the public distribution system (PDS). Fertilizer Minister Ananth Kumar told The Hindu that the administered price controls for urea would stay. "We...

-The Indian Express The finance minister plans to scrap the supply of subsidised kerosene through the public distribution system (PDS) and high time, too. To begin with, why has the kerosene subsidy needed reform for decades and yet reform never materialised? Kerosene obtained through the PDS, being cheaper, is used to adulterate diesel and petrol. Kerosene leakages in the PDS are estimated to be 40 per cent of total allocations. The diversion...

-Livemint The development economist on the Modi government's initiatives and his stand on them, and MGNREGS The Narendra Modi-led government should consider replacing inefficient subsidies with a basic monthly income for all citizens, says Pranab Bardhan , emeritus professor of economics at the University of California at Berkeley. Bardhan, who recently sparred with economists Jagdish Bhagwati and Arvind Panagariya in a debate over the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS),...

-The Telegraph Guwahati: Apart from Tripura and Sikkim, enrolment for Aadhaar cards remains very low in the northeastern states, with Assam at the bottom of the list. According to figures available with the Unique Identification Authority of India (UIDAI), which handles the Aadhaar project, as on November 30, 2014, the percentage of enrolment against the total population was abysmally low in Assam - 0.3 per cent. The trend is not much better in...