-The Hindu Move after meeting with manufacturers A day after fertilizer producers announced a sharp 46% to 58.33% hike in prices citing higher raw material costs, the Central government intervened on Friday to ensure a rollback even though fertilizer prices are no longer regulated. Minister of State for Chemicals and Fertilizers Mansukh Mandaviya said prices would remain unchanged for now, after a ‘high-level’ meeting was held with the major fertilizer companies. Opposition parties had...
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Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »The Enormous Extra Spend In Budget Is An Illusion -Aunindyo Chakravarty
-NDTV blog Nirmala Sitharaman said: "We have spent, we have spent and we have spent." She had every reason to claim that, since the budget numbers show that the centre spent ₹ 4.1 lakh crore, or 13 percent above what it had planned for last year. Additional spending will continue this year: expenditure is estimated to go up by 14.5 percent in 2021-2022 compared to last year, even though the government's...
More »Farmers want better APMCs, not ‘mukti’ from them, says AIKMS
-The Hindu The document argued that the diesel cost had been raised tremendously by the present government. The Left- affiliated All-India Kisan Mazdoor Sabha (AIKMS) on Sunday released a document countering the claims of the Modi government on the three contentious farm laws, saying that the government’s arguments for not repealing the legislations were “deceptive” and “untruthful”. It also accused the government of propagating “falsehood” to claim that the laws would help...
More »Why farmers don't like direct cash transfers -Harish Damodaran
-The Indian Express The main reason for rejecting the DCT (as opposed to DBT) option was the belief that paying market price for fertilisers upfront would result in additional financial burden. More than three-fourths of Indian farmers like the new system of fertiliser subsidy linked to sales made to them by retailers being registered on point-of-sale (PoS) machines. This so-called direct benefit transfer (DBT) system, wherein the subsidy to fertiliser companies...
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