In planning, pursuit of profit was not seen as being in the social interest in the post-Independence years, but now profit is the sole motive. FOR two decades now the Government of India has pursued a policy of accelerated liberalisation, dismantling controls, diluting regulations and making the state a facilitator of private investment. It is not that the presence of the state has diminished during this period, but that its role...

30 per cent of cars sold last year were with diesel engines The growing gap between the prices of petrol and diesel has given a boost to the sale of diesel cars even as environmentalists cry foul over the public health impact due to the increasing use of diesel, which is also referred to as “dirty fuel” in Indian cities. While petrol consumers are paying market-linked prices of Rs. 66.84 per litre...

Lashing out at the United Progressive Alliance-II for following anti-people policies and not even sparing school-going children in the general budget by levying taxes on their textbooks and stationary, Communist Party of India (Marxist) leader Brinda Karat on Thursday urged the government not to blame the poor for the food inflation. “By attributing the rise in prices to increasing consumption by the poor, the government is putting the blame for food...

The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...

Although finance minister Pranab Mukherjee had promised food security and inclusive growth in his budget speech last year, hunger continues to stalk over 300 million citizens of the country. India slipped to 67th place in the Global Hunger Index 2010 rankings of 122 countries prepared by International Food Policy Research Institute. An Oxford University report said that 410 million Indians live in poverty. While there may be nit-picking over the...