-The Business Standard In Budget, reformers win, NAC loses The consensus opinion that has developed about the 2012-13 Budget presented by Finance Minister Pranab Mukherjee on Friday is that it was unambitious, especially in terms of reworking government spending. It delivered little in terms of a vision for reform, the argument goes, constrained as it was by the spending-hungry allies in the United Progressive Alliance (UPA) and the entitlement-hooked Congress leadership. A...

In this year's budget, Union Finance Minister Pranab Mukherjee has essentially tried to consolidate the gains from the initiatives he had launched during the previous two budgets. Thus, in agriculture there is no new initiative except increasing the target for agricultural credit to Rs.5,75,000 crore during 2012-13. This represents an increase of over Rs.1,00,000 crore from last year. The interest rate of four per cent recommended by the National Commission...

The common man, whose concerns were at the heart of the Congress-led United Progressive Alliance’s two successful election campaigns, doesn’t seem to be the focus of finance minister Pranab Mukherjee’s budget. Experts and political analysts say the aam admi doesn’t appear to be the dominant concern anymore, prompting speculation about Congress party chief Sonia Gandhi’s role. She has thus far been setting the UPA’s social agenda through the National Advisory Council...

-The Business Standard   Major subsidies extended by the government are likely to jump to Rs 1,34,411 crore during 2011-12 The Survey has warned of deteriorating fiscal health due to a mounting subsidy burden. The huge outgo over the past year has been largely on account of the global rally in crude oil prices, the fertiliser subsidy and state-controlled foodgrain prices, it said. It also blamed ‘coalition politics and federal considerations’ for holding...

West Bengal is likely to simplify restrictive laws on land ownership, making it easier for industrial estates to sell surplus land. The state’s land ceiling laws cap private ownership of land at 24 acres, and there were restrictions on transfer of land held under exemption from the threshold. The new policy, which is expected to be ratified by the state cabinet on Friday, would allow companies to transfer even leasehold land given...