-The Economist Government borrowing generates inflation, widens the external deficit and crowds out much-needed investment. Can India now overcome its debt addiction? INDIA has grappled with its public finances for long enough. When presenting its first budget after independence in 1947, the finance minister of the day insisted that the country was not living beyond its means. Yet every budget since has failed to produce a surplus. India borrows more heavily...

-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...

-First Post With 10 state assembly Elections this year and the general election in the next, the Congress-led United Progressive Alliance (UPA) faces possibly its sternest challenge since it returned to power in 2009. It goes without saying that the forthcoming electoral tests have been compounded by the perceptibly declining political standing of the ruling alliance caused by multiple scams and economic stagnation. In addition, defeats in a series of Elections ranging...

-The Business Standard State budgets are raining sops to pull farmers' votes With Elections staring at them, several state governments are suddenly waking up to the demands of farmers and offering sops to the agriculture sector in their budgets, even as farmer organisations say the state and Central governments should do more.    Karnataka, which pioneered the trend of having a separate agriculture budget--similar to the railway budget at the Centre — brought...

-Live Mint Preventing entry of Dalits, tribespeople to places of worship should be made a punishable offence, says NAC Preventing Dalits and tribespeople from entering places of worship will be made a punishable offence under legal changes proposed by the National Advisory Council (NAC), which sets the social policy for the Congress-led United Progressive Alliance (UPA) government. Obstructing members of such groups from using community resources will also be made an offence under...