The Budget provides proof of the United Progressive Alliance government having forgotten the importance of its own “flagship schemes”. BUDGET 2012-13 provides conclusive proof that the United Progressive Alliance (UPA) government has lost its way. It has managed the remarkable feat of upsetting almost everyone and making no one happy. The Budget is highly regressive in both taxation and spending terms and will raise prices of essentials, so aam aurat and...

The idea of interlinking rivers is appealing because it is so grand, but this is also the reason it is nothing more than a distraction The Supreme Court recently issued a diktat to the central government about the scheme to interlink rivers. The directions are straightforward. The government shall set up a high-level committee of ministers and other representatives on interlinking of rivers; the committee shall meet “at least once in...

-Economic and Political Weekly   Budget 2012, built yet again at the altar of fiscal fundamentalism, will not convince anybody. In this era of immediate assessment it took just a few minutes for the Union Budget for 2012-13 to be given one or the other negative appellation – “lacklustre”, “anti-growth”, “back to the 1980s”, “without reform” and the like. Such evaluations forget that union budgets have long since ceased to be statements of...

One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...

-The Hindu Food subsidies for poorest will help them cope: ADB A hike in the cost of food staples like rice and wheat could push tens of millions more people into extreme poverty in the South Asian region including India, says an Asian Development Bank (ADB) report. The Manila-based lending agency, in its report “Food Price Escalation in South Asia – A Serious and Growing Concern” released on Monday, however, said that food...