There was a lot of apprehension before budget day regarding what the Union finance minister will do to reduce the deficit. Will he roll back the tax concessions implemented a couple of years ago as part of a fiscal stimulus package? Will he announce populist social sector spending in view of the major state polls coming up this year? Will he be too timid and not take any bold steps...

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...

This article documents and then examines the various benefits that, it is claimed, will flow from linking the Unique Identity number with the public distribution system and the National Rural Employment Guarantee Scheme. It filters the unfounded claims, which arise from a poor understanding of how the PDS and NREGS function, from the genuine ones. On the latter, there are several demanding conditions that need to be met in order...

The 3 PSUs had complied with the good manufacturing practice norms Closure decision was based on misinterpreted signals from WHO Taking a critical view of the manner in which the manufacturing licences of three public-sector vaccine producing units were suspended, a Parliamentary panel has said it was abundantly clear that the decision was based on a major misconception and due to the misinterpretation of certain unclear signals in the communication from the...

The Italian phrase "lascia il tempo que trova" (it leaves the air it finds) does a better job of describing Pranab Mukherjee's budget than India's corporate media would ever dare to do. To put it mildly, the budget this year, is yet again, an utter disappointment for the food and agriculture sectors. To begin with, flagship schemes like the midday meals and the Integrated Child Development Services did not, unlike in...