-The Business Standard   A Nandan Nilekani-led task force on an Aadhaar-enabled unified payment infrastructure has recommended setting up a network of one million interoperable micro-ATMs across the country. The ATMs will be operated by business correspondents. The task force, headed by the Chairman of Unique Identification Authority of India, submitted its report to Finance Minister Pranab Mukherjee on Thursday. The panel has suggested that in order to set-up this network quickly, a last-mile transaction...

The government is planning to come up with a price protection fund to cushion the burden of food subsidy, which is expected to grow manifold under the new Food Security Bill. The proposed fund, under the ministry of food and consumer affairs, is a Budget proposal for 2012-13. Officials said the framework of the fund was at a nascent stage. “Some inferences are being drawn from the recommendation of National Farmers’ Commission...

-The Indian Express   Delhi residents are ahead of the others in terms of earning and spending, says a new government survey. At nearly Rs 1.16 lakh, the average annual per capita income of Delhiites is the highest in the country, and at Rs 33,732, the annual per capita expenditure too is the highest, as per the survey. “The monthly per capita expenditure of Delhiites signifies the prevalence of relatively better levels of living...

The irrationality and waste in energy subsidies in India has been a perennial theme in analysis of the Indian economy and in reform prescriptions. Progress has, however, turned out to be elusive in the face of ground realities and feasible politics.  The power ministry, after struggling for over a decade through repeated exhortations, had the satisfaction of getting a resolution in a Chief Ministers Conference in 2001 that free supply of...

The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...