-The Indian Express Raipur: The Chhattisgarh anti-corruption bureau (ACB), which is probing irregularities in supply of rice for the public distribution system (PDS) in the state, is scrutinising an alleged balance sheet which lists, among others, senior IAS officers and personal assistants to the food minister and chief secretary as beneficiaries of illegal commissions. The five-page balance sheet, recovered by the ACB from the office of Girish Sharma, personal assistant to...

Quite opposite to the top-down model of budgeting, the newly elected Aam Aadmi Party-led Government in Delhi has decided to go for a 'citizen-centric' budget planning at 'mohalla'-level for the fiscal year 2015-16. Drawing lessons from the success stories of participatory budgeting conducted at municipal-level in cities like Porto Alegre (Brazil), the AAP-led Delhi Government has decided to launch this form of decentralized budgeting on a pilot basis in a...

Following the recommendations of the Shanta Kumar Committee report on restructuring of the Food Corporation of India (FCI), there are signs that the Central Government is in a hurry to replace the Public Distribution System (PDS) with cash transfers. The Government's intention has been revealed in two official letters (one dated 10 February 2015 and another dated 11 February 2015) that were sent from the Joint Secretary at Department of...

-Business Standard The central government's price stabilisation fund for potatoes and onions proposes to take on only half of any losses incurred by agencies of state governments in this regard, such as civil supply corporations. The draft guidelines for the Fund, creation of which was announced in the 2014-15 Budget by Finance Minister Arun Jaitley, say if any central government agency (such as Nafed or SFAC, the Small Farmers Agri-Business Consortium)...

-The Asian Age The sharp and sudden collapse of international prices of crude oil brings significant short-term gains for the Indian economy. However, in the medium and long run, the fall in oil prices has ramifications that are far from positive for this country. The windfall gains that have accrued will provide temporary relief for finance minister Arun Jaitley and will enable him to meet the fiscal deficit target in the...