Most of us don’t even get a single shot at making history — Manmohan Singh has a second chance The fiscal deficit is an outcome, not a policy. It is the net resolution of the policies pertaining to taxes and expenditure. It is worth analysing separately the two components of the deficit. The table reports the results of relating the tax and expenditure share of GDP to per capita income for...

-The Financial Express The finance ministry today said income tax dues from 12 individuals, including stud-farm owner Hasan Ali Khan, account for 90 per cent of the total income tax outstanding. "The amount of outstanding income tax dues is a dynamic figure. As on September 30, 2010, about 90 per cent of the outstanding Personal Income-tax demand were due from 12 individual taxpayers," Minister of State for Finance S S Palanimanickam said...

The latest round of data on the 2011 Census shows that the country is exhibiting distinct signs of trading up as material living conditions improve for large sections of the population. Although this aggregate picture is not uniform across the country, analysts believe that the upward material mobility in society is creating the basis of a new consumer boom in the economy—serving up a perfect backdrop ahead of the presentation of...

-WFS   Pamela Philipose meets three tribal women who changed the course of their lives through sheer grit and determination, despite their circumstances Kaushal Markam’s experiences are not unusual. When she managed to get a job card entitling her to work on one of the government-run worksites under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), she was delighted.  Money was always in short supply, and this 35-year-old Baiga tribal woman of Dongaria...

The National Food Security Bill has the potential to make a significant difference to the lives of the poor if properly implemented. However, the Bill in its present form has some easily correctible flaws that could cause huge problems in the future. A couple of simple amendments would greatly simplify the implementation and also allow innovation in the delivery of food subsidy. First, the proposed framework based on three categories of...