The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...

-The Times of India After inhaling kitchen smoke for over four decades, Shirin Kapasi, 62, can now breathe easy. Over the past four months, she has stopped cooking for the family. Instead, she has started making imitation Jewellery at home and added to the earnings of her husband, an autorickshaw driver.  Kapasi and hundreds of women like her from the Dawoodi Bohra community have been unshackled from the hearth thanks to the...

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.  The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens.  In...

The government’s draft report on black money — that has been circulated to members of the high level committee on black money for final comments — confirms that details of the HSBC accounts in Geneva have given the country its biggest black money trail. Citing this as an instance where the government has moved fast in tracing the coded account holders, the report states that the receipt resulted in information...

Seventy nine couples tied the knot in a rather unique mass marriage ceremony organized by Nana Baar Gaam Kadva Patidar Samaj at Thaltej on Sunday. What was special about the ceremony was that at least seven brides were tribal girls who were being accepted in the Patidar fold with blessings of parents of both brides and grooms. Sangeeta Babubhai from Bharuch was the bride of Gajendra Patel, a boy from Kalol....