-The Economist Government borrowing generates inflation, widens the external deficit and crowds out much-needed investment. Can India now overcome its debt addiction? INDIA has grappled with its public finances for long enough. When presenting its first budget after independence in 1947, the finance minister of the day insisted that the country was not living beyond its means. Yet every budget since has failed to produce a surplus. India borrows more heavily...

-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...

-Rising Kashmir Srinagar: The criterion for laborers getting wages with Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in Bandipora villages is not a job card but a rooster. “Even if you have worked efficiently, you will be paid wages only if you have a desi rooster to gift the officials,” locals from various Bandipora villages said. Alleging corruption in the release of funds, people from Zaban Chuntimulla said authorities were not releasing...

-First Post With 10 state assembly elections this year and the general election in the next, the Congress-led United Progressive Alliance (UPA) faces possibly its sternest challenge since it returned to power in 2009. It goes without saying that the forthcoming electoral tests have been compounded by the perceptibly declining political standing of the ruling alliance caused by multiple scams and economic stagnation. In addition, defeats in a series of elections ranging...

-The United Nations Unless Africa’s leaders prioritize environmental and health issues, and prevent the degradation of health-promoting food and medicinal plants, people’s health and productivity will continue to suffer, warns a new report released today by the United Nations Environment Programme (UNEP). “Africa’s population is growing at the fastest rate in the world and its economy is expanding at a commensurate rate, yet not enough focus has been placed on the role...