-The Economic Times Small and marginal farmers who constitute more than 80% of total farmer households in the country face exclusion from formal financial channels," says the Nair Committee on priority sector lending. The same report says "commercial banks have been prescribed targets since late 1960s for priority sector lending".  The banking system failed the farmers and the needy despite nationalisation, but is there a viable model that could help the millions...

-IANS The Indian government's subsidy burden is expected to reach 2.5 percent of the country's gross domestic product (GDP) for the fiscal ending March 31, the highest in 10 years, due to higher price of crude oil and other commodities, a report showed Tuesday.  The total subsidy is expected to increase to Rs.2,23,000 crore in the current financial year, which is 2.5 percent of GDP at the current Market price which is...

The Swiss-based pharmaceutical giant Novartis is taking the state of India to court in a case that has, after rumbling about in the lower courts for six years, wound up as a very public litmus test of the legal framework sustaining India’s generic drugs revolution.  With the case due before the Supreme Court on 28 March, the fate of millions who depend on affordable Indian medicines may soon hang in the...

-The Business Standard Govt should not explore unworkable solutions The petroleum ministry’s “single kitchen” concept for new consumers of liquefied petroleum gas, or LPG, is a classic case of using a flawed solution to compensate for policy distortions in the pricing of petroleum products. The norm of allowing one LPG connection per household with one kitchen may look good on paper but it is hardly a foolproof mechanism to curb the misuse...

The government has decided to throw its might behind private purchases of farm land overseas to ensure food security for India.  The agriculture ministry has sought views from other ministries on an institutional mechanism to extend sovereign support to India Inc's acquisition of farm land abroad that could include guaranteed buyback of harvest from the cultivation overseas.  Agriculture secretary PK Basu said that the proposal is in a nascent stage. "We had...