-The Economic Times The government may increase the annual target of the banks for lending to the agriculture sector by 22% in the upcoming union budget to 7 lakh crore, in view of the revised classification of priority sector loans issued by the Reserve Bank of India. "Banks will be pushed to achieve their direct lending targets and focus on the new improved Kisan Credit Card scheme," said a finance ministry official,...

-The Economic Times A Committee of Secretaries (CoS) recommendation for a 10% increase in urea prices notwithstanding, the fertiliser ministry is in no mood to bite the bullet. The ministry has categorically said in a note that it opposes the recommendation and that there should be no price revision. The Cabinet has been deferring a price raise for the last six months due to the fertiliser ministry's opposition. The government has been...

-The Times of India Every few days, Rajkumar Sharma, manager of a group housing society in Noida, makes the mandatory trip to the nearby petrol pump to pick up his quota of diesel. A few days back, even as he was on his 'diesel duty' as he calls it, he was making some quick back-of-the-envelope calculations. "Our average monthly consumption is around 400 litres which means a monthly expenditure of around...

-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...

The total expenditure on central schemes for the poor and on the major subsidies exceeds the states' share of central taxes. These schemes are chronic bad performers due to a culture of immunity in public administration and weakened local governments. Arguing that the poor should be trusted to use these resources better than the state, a radical redirection with substantial direct transfers to individuals and complementary decentralisation to local governments...