The Supreme Court will examine the constitutional validity of the Civil Liability for Nuclear Damage Act, 2010, which limits the liability of an operator in the event of a nuclear disaster to Rs. 1,500 crore. A Bench of Chief Justice S.H. Kapadia and Justices A.K. Patnaik and Swatanter Kumar on Friday issued notice to the Centre on a writ petition filed jointly by Common Cause; the Centre for Public Interest Litigation;...
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Pranab banks on indirect tax hike-Ashok Dasgupta
Token relief to individual taxpayers will cost the exchequer Rs. 4,500 crore In a “pragmatic and domestic growth-oriented” budgetary exercise aimed at shoring up investor confidence and investment, Union Finance Minister Pranab Mukherjee on Friday sought to tap indirect taxes, especially service tax, to rake in an additional Rs. 45,940 crore into his kitty. Presenting the budget for 2012-13 in Parliament, Mr. Mukherjee provided a token relief to individual taxpayers that will cost...
More »Food subsidy allocation way short of requirement-Gargi Parsai
Food subsidy allocation in the budget for 2012-13 is way short of what is required for the implementation of the proposed National Food Security Act, despite a categorical assurance by Finance Minister Pranab Mukherjee that the government would “fully provide” food subsidy to administer UPA's flagship legislation. In fact, the regular food subsidy requirement has been cut. While declaring that the government proposed to phase out subsidies in fertilizer and petroleum...
More »Downward slide in the summer of our discontent-Sitaram Yechury
An opportunity has been forsaken to strengthen our economic fundamentals while improving the lives of the people, increasing the divide between India Shining and India Suffering. While the people were hoping for relief in the current budget, the Finance Minister was faced with the task of reversing the slowing growth rate and raging inflation. He had a choice in this budget. He, however, chose a path that is going to worsen...
More »Budget 2012 reinforces UIDAI’s existence-Harsimran Julka
Budget 2012 has further validated the existence of the Unique Identification Authority of India, whose identity was under question barely six months ago, by giving it more money and responsibilities to shape the government's technological interventions. The government has allocated the UIDAI Rs 1,758 crore from the Budget in 2012-13, a year-on-year increase of 47%, primarily to increase enrolments of Indians for unique IDs to 600 million, from 200 million. A...
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