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Tax exemptions for rich costs govt Rs 4.6L cr

-The Times of India The subsidy for the poor is dwindling, but this has not deterred the government from lining up corporate houses' pockets. Last year, the Centre gave away potential revenue of Rs 4.6 lakh crore on account of various tax exemptions and incentives to industrialists, compared to the Rs 1.54 lakh crore on subsidy to poor and farmers. There are direct tax incentives and exemptions to businesses in the corporate...

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RBI hopes FDI in muti-brand retail will ease inflation

The Reserve Bank of India on Friday expressed the hope that foreign direct investment in multi-brand retail would help in bringing down inflation. “...Certainly it (FDI in multi-brand retail) would help improve supply chain and we hope it should also contribute to reducing inflation,” Reserve Bank of India Governor D. Subbarao told reporters on the sidelines of a memorial lecture here. Dr. Subbarao said 51 per cent FDI in multi-brand retail would...

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Free power versus water by Basant Kumar Mohanty

Rural development minister Jairam Ramesh today questioned the policy of providing free electricity to farmers in certain states, saying excessive pumping by cultivators had led to a depletion in groundwater levels. “In district after district, groundwater tables are falling. And there is no doubt that free electricity has caused excessive use of water. Our policies on pricing of water also do not lead to conservation. So we have to rethink on...

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Nilekani bats for 'Aadhaar'

-The Times of India   Chairman of the Unique Identification Authority of India (UIDAI) Nandan Nilekani has said that the unique identity programme or 'Aadhaar' should not be viewed as "a technologically complicated and purposeless activity". "The programme has much wider and scalable applications for ensuring effective and efficient delivery of public distribution system (PDS) and welfare services," he said while delivering the inaugural speech at the launch of the Pune International Centre...

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Subsidising through prices: A bad idea by Bibek Debroy

The acronym LPG has several expansions. It stands for liquefied petroleum gas. It stands for liberalisation, privatisation and globalisation, a term of abuse used by those with Leftwing persuasions. It stands for life plundered by the government, sentiments associated with those who are against state intervention, but increasingly felt by the so-called middle class - however defined - because of price hikes, and proposed price hikes, for petroleum products. Ostensibly, price...

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