-The Times of India MUMBAI: The ration card - the government issued booklet for availing of subsidized food under the public distribution service - is set to lose its privileged status as a valid document for opening bank accounts. Aadhaar is now set to become the single universal document for opening a bank account in India. In a circular dated July 17 addressed to banks, the RBI said that it has revised...

-The Hindu   The national discourse is so superficial that it only talks of foreign direct investment, investment allowance, tax sops and the like which are just about a twentieth to a sixth of the national economy. It did not even notice paragraph 102 in the Union budget speech which is about half of India's economy. Commentators see facts hidden in budgets as the "devil's in the detail." This presumes that only...

-The Times of India NEW DELHI: Stuck on a waterlogged road, many of you would blame the monsoon for your misery. This report should dispel that notion. In its audit of Delhi's drainage, desilting and flood control measures, the Comptroller and Auditor General of India has unearthed systematic fraud and neglect, showing how taxpayers' money is virtually going down the drain. The report, which could be tabled in Parliament soon, reveals a...

-The Times of India   NEW DELHI: About 40 busloads of citizens die on the capital's roads every year but the deaths do not shock anyone and governments over the years have done little to stop it. In the six years from 2008 to 2013, more than 12,300 people died in road accidents here. Last year alone, there were 1,820 deaths. An assessment of road accidents done by Centre for Science and Environment...

-The Hindu   The Union Health Minister, Dr. Harsh Vardhan, recently said he "supports" higher taxes on cigarettes and other tobacco products. But even if he were to substantially increase the tax rates, will it make cigarettes and other tobacco products very expensive and hence reduce consumption? In the case of India, as per the current taxation practices, increasing the tax component is quite unlikely to reduce consumption drastically. This is unlike the...