-Economic and Political Weekly The recent debate on the acceptability of foreign direct investment in the retail sector in India has been mostly political. It is necessary to look into the pros and cons of FDI in retail from a purely economic point of view. This article identifi es the safeguards that should be undertaken before allowing giant multinationals to function in the country. Abhirup Sarkar (abhirup@isical.ac.in) is with the Indian Statistical...

-Outlook The agriculture sector witnessed record foodgrains output of 257.44 million tonnes in this year enabling the country to become world's largest rice exporter for the first time, but the monsoon played spoilsport dashing farmers' hopes of an encore in 2013. A hefty increase of Rs 1 lakh crore in farm credit target to Rs 5.75 lakh crore was a major highlight for the sector in 2012, while the continuing farmers suicide...

-Outlook Jaipur: Describing the proposed Direct Cash Transfer scheme a 'pure magic' that brings a big responsibility on banks for its implementation, Finance Minister P Chidambaram today asked bankers to work with the government to make the scheme a success. "Through this unique benefit transfer scheme, money when it is released, will instantaneously be credited in the bank account of the beneficiary, leaving no scope for corruption and pilferage. That is why...

-PTI Finance Minister P Chidambaram on Friday asked banks to gear up for implementation of the ambitious cash transfer scheme, which seeks to transfer money directly into beneficiary accounts in 51 districts from January 1. "There is lot of work to be done from January 1. There are huge burden, huge responsibility going to fall on your shoulders. It is banks that have to make cash transfer scheme successful. I know you...

-The Times of India The West Bengal government has managed a turnaround in revenue collection, thanks to innovative use of technology and the impending need to raise resources and repair the state's tattered finances. Data shows tax receipts during the first quarter of 2012-13 have risen 35%. In 2010-11, before the Trinamool Congress-led government came to power, tax collection by the Left Front government stood at Rs 21,000 crore, while in 2012-13...