The data show that rural families simply cannot subsist on farm incomes alone There must be a bit of Gandhi in all of us because often our idea of India ultimately boils down to the kisan as the standard bearer of the lakhs of villages that comprise India. Perhaps that is why I tend to look for the signs of transformation in the lives of Indian farmers. The changes in...

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...

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.  The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens.  In...

-The Economic Times   The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone.  But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...

Questionable drug trials on mentally challenged persons by doctors in Indore emphasise the need for strict enforcement of medical ethics. IN what appears to be a page out of Robin Cook's medical thriller, government and private doctors in Indore, Madhya Pradesh, reportedly carried out clinical trials of various medicines on some 233 patients who had gone to them seeking psychiatric treatment. As in Cook's famous book Coma, in which a medical...