The budget is more concerned about the consumer than the grower A LOOMING food crisis in the world and high food inflation rates at home made Pranab Mukherjee’s proposals to boost agriculture in his 2011 budget more keenly watched than usual. These are factors that clearly weighed with the finance minister who repeatedly said that his principal concern this year has been the continuing high food prices. The squeeze on the...
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Budget falls short on basics by PV Indiresan
The Budget should be an instrument of economic discipline and a promoter of healthy social development. As it is, it is like a leaky tap; it cannot halt inflation without disciplining political skulduggery. March 21, 2011: A lot has been written about the Budget, how it affects this or that industry or business, or how it will increase or decrease the GNP growth rate. Undoubtedly, all those factors are important. But...
More »Pranab takes on board Sonia's concerns by Smita Gupta
Union Finance Minister Pranab Mukherjee made sure to defer to the Sonia Gandhi-led National Advisory Council's priorities as he presented the Union budget for 2011-2012 on Monday. The Minister took care to mention that the Food Security Bill, the NAC's top priority, was almost ready and would be brought before Parliament later this year. He also took on board the NAC's concerns on the Mahatma Gandhi National Rural Employment Guarantee Scheme...
More »Time to find out where the money goes
The Union Government’s belated decision to establish an audit mechanism for projects undertaken under the Mahatma Gandhi National Rural Employment Guarantee Scheme has been motivated by a number of complaints regarding irregularities in the implementation of the programme. The Government should have taken the step much earlier, in fact soon after the scheme was introduced with much fanfare as the ruling United Progressive Alliance’s flagship social sector project. But at...
More »Funds for social schemes seem to be vanishing
In his general budget for 2011-12, finance minister Pranab Mukherjee has announced an increase in allocation for the Mahatama Gandhi National Rural Employment Guarantee Act (NREGA) of Rs10,000 crore to Rs58,000 crore.The finance minister has proposed an identical hike for the Bharat Nirman scheme, and also proposed to give Rs3000 core to the national agricultural development board, NABARD.Mukherjee also said the government has decided to index the wage rates notified...
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