-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...

-Economic and Political Weekly   The stage is all set for the resumption of iron ore mining in Goa after it was suspended in the state in 2012, to curb its indiscriminate and illegal mining. The Goa government's decision to renew the mining leases comes at a time when the economics of iron ore mining have changed and environmental concerns have gained more prominence. Pamela D'Mello (dmello.pamela@gmail.com) is a Goa-based journalist. The state government...

Quite opposite to the top-down model of budgeting, the newly elected Aam Aadmi Party-led Government in Delhi has decided to go for a 'citizen-centric' budget planning at 'mohalla'-level for the fiscal year 2015-16. Drawing lessons from the success stories of participatory budgeting conducted at municipal-level in cities like Porto Alegre (Brazil), the AAP-led Delhi Government has decided to launch this form of decentralized budgeting on a pilot basis in a...

-Hindustan Times The Narendra Modi government has decided to introduce the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Bill, 2015, in Lok Sabha today. The controversial Bill seeks approval of Parliament for changes brought in the law through an ordinance or emergency executive order in December 2014. The Bill will lapse on March 20, if it is not passed during this budget session that began...

Following the recommendations of the Shanta Kumar Committee report on restructuring of the Food Corporation of India (FCI), there are signs that the Central Government is in a hurry to replace the Public Distribution System (PDS) with cash transfers. The Government's intention has been revealed in two official letters (one dated 10 February 2015 and another dated 11 February 2015) that were sent from the Joint Secretary at Department of...