-The Economic Times Petrol car owners in Delhi will get some relief from the recent steep rise in petrol price after the state government decided not to levy value added tax on the price hike announced by the oil marketing companies on last Wednesday. Tobacco products will get costlier, court fee will increase and circle rates for property are expected to rise resulting in steeper stamp duty on property transactions. Public transport...

A day after the steepest ever petrol price hike of Rs. 7.54 sparked protests by UPA allies and Opposition parties in several parts of the country on Thursday, there were strong indications that the government would cushion the blow for the common man. Petrol prices may come down by Rs. 3-4 a litre in the next few days as state governments readied plans to slash local taxes and oil companies...

Union Agriculture Minister Sharad Pawar’s statement in Parliament that the Government plans to shift subsidies from chemical fertilizers to organic manures has finally earned him some admiration from grassroots organisations working with small and marginal farmers in the country’s vast dry-lands. Pawar’s statement, if translated into policy action, may go a long way in improving the condition of some of India’s poorest farmers in the rain-fed areas which account for...

-The Economic Times Open-ended consumption subsidies on petroleum products have wrought havoc on government finances. Reportedly, the trio of public sector oil marketing companies have of late blocked some 3.8 million parallel household connections of liquefied petroleum gas (LPG), in a bid to rationalise the subsidy outgo. The move to weed out multiple LPG connections does make sense. But we need to keep the big picture in mind and overhaul the pricing and...

Inflation in India rose above expectations in April, making life difficult for the nation's central bank as it tries to revive an economy facing increased stagflation risks. The Reserve Bank of India last month cut its policy rate for the first time in three years to boost sagging growth. But inflation has remained stubbornly high, raising concerns the economy may be facing a nightmare scenario of slowing growth and rising prices. On...