-Outlook Corporate karza maafi reaches new heights, social spending new lows This year's budget write-off in customs duty on gold, diamonds and jewellery (all aam aadmi items, of course) is Rs 75,592 crore. That's well over twice the "record" amount allocated to the Mahatma Gandhi National Rural Employment Guarantee Scheme. As Prof Jayati Ghosh points out, the MNREGA has given billions of person-days of work to tens of millions of poor...

-The Hindu Business Line Chennai: The Fourteenth Finance Commission has formulated its recommendations without any reference to the distinction between Plan and non-Plan outlays. This will facilitate greater attention to maintenance expenditure, and reduce incentives to boost capital works and show large-sized plans, said YV Reddy, Chairman of the Commission and former Governor of the RBI. Delivering the Raja J Chelliah Memorial Lecture at the Madras School of Economics on Monday, Reddy...

The India Country Report 2015 on Millennium Development Goals (MDGs) comes at a time when the Union Budget 2015-16 allegedly cut expenditure on several social sector schemes and programmes. This year's MDG country report says that India will fail to achieve two important targets pertaining to reducing hunger and maternal mortality by 2015, among others. Released by the Ministry of Statistics and Programme Implementation (MoSPI), the report says that India is...

-Hindustan Times Massive budget cuts in the education sector in the 2015-16 Budget got activists and NGOs working in the sector worried. The outlay for programmes such as the Integrated Child Development Services (ICDS) scheme, National Nutrition Mission, Rashtriya Madhayamik Shiksha Abhiyaan (RMSA) and mid-day meal scheme have seen significant cuts. The allocation for ICDS Scheme has been reduced from Rs 18,195 crore in 2014-15 budget estimates to Rs 8,335.8 crore in...

-The Times of India The Narendra Modi government appears to have continued where the Congress regime left off as far as welfare of Dalits and adivasis is concerned. Plan allocation for schemes under various ministries and departments that serve dalits and adivasis remains much below the targeted levels in the Union Budget for 2015-16. Total Plan allocation in the recently presented Union Budget is Rs 4.65 lakh crore. To ensure that Plan funds...