How transparent and participatory is Pranab Babu’s budget For six months it evolves under a veil of secrecy. The Cabinet gets to see it just a few hours before it is tabled in the Lok Sabha. Such is the covert nature of the Union budget that accounts for about 50 per cent of all budgets in the country. Finance Minister Pranab Mukherjee wants to make the budget what such a public affair...

Although finance minister Pranab Mukherjee had promised food security and inclusive growth in his budget speech last year, hunger continues to stalk over 300 million citizens of the country. India slipped to 67th place in the Global Hunger Index 2010 rankings of 122 countries prepared by International Food Policy Research Institute. An Oxford University report said that 410 million Indians live in poverty. While there may be nit-picking over the...

A renewal of concern about fiscal management in India is partly due to the resurgence of populism even in a post-election year. Instead of working to reduce the subsidy bill, various political elements seem to be pushing for even higher subsidies. The recent decision of a group of ministers to absorb higher import and production costs of fertilisers by raising subsidy, rather than increasing prices, is just one example. Some...

Thousands of people have gathered in the Indian capital, Delhi, to take part in a rally to protest against rising food prices and unemployment. A steady stream of protesters, carrying red flags, has been marching through the streets of central Delhi since early morning. The rally has led to massive traffic jams in the city. Trade unions who have called the rally say nearly 40,000 people will attend a meeting at the Ramlila...

With India growing faster than almost every other large economy, the government is right to address its long-run challenges. The push for investment in infrastructure is bearing fruit and the expansion of social programmes such as the National Rural Employment Guarantee Act (NREGA) and the Right to Education Act (RTE) is spreading the benefits of growth across the population. But just as improved infrastructure doesn’t eliminate all traffic jams, rapid growth...