Budget 2011-12 marks a sharp retreat of the government from the social and economic sectors. It has cut back expenditures in sectors that matter to common people, especially the poor. On the other hand, it has given huge concessions to the corporate sector in the form of tax cuts and exemptions. Let us take the overall fiscal stance of the budget. The underlying strategy is to reduce its fiscal deficit to...

“To ensure greater cost efficiency, better delivery” Seeking to address the issue of subsidies not reaching the targeted groups, Finance Minister Pranab Mukherjee on Monday proposed to provide a direct cash subsidy on fuel and fertilizers to the poor from March, 2012. “To ensure greater cost efficiency and better delivery of kerosene and fertilizers, the government will move toward direct transfer of cash subsidy for people below poverty line (BPL) in a...

Allaying privacy fears surrounding 'Aadhar', the Unique Identification Authority of India Chairman Nandan Nilekani today said the project would in no way put at risk citizens' security and rights. Delivering a lecture on 'Analysing and Envisioning India,' Nilekani said having an Aadhar number in no way puts the resident in a security risk or intrudes privacy. "The data collected of the individual by means of biometric system will only be for the...

The Empowered Group of Ministers (EGoM) on fertilisers today approved the prices of complex fertilisers for the upcoming financial year 2011-2012. The EGoM, headed by Finance Minister Pranab Mukherjee, approved the prices of di-ammonium phosphate (DAP), muriate of potash (MOP), sulphur and urea for the purposes of its nitrogen component at $580, $390, $180 and $350 per tonne, respectively. These are the prices at which contracting by the industry would be...

In a move aimed at a focussed targeting of subsidies for the country's poor, the government on Monday announced the setting up of an inter-ministerial task force under Unique Identification Authority of India (UIDAI) chairman Nandan Nilekani. It will work out a suitable mechanism to provide direct subsidies on kerosene, cooking gas (LPG) and fertilizers for the intended beneficiaries. In a statement here, the Finance Ministry said the task force was set...