-The Hindustan Times In 2009, when India faced its worst drought in three decades, the country managed to produce a million more tonne of foodgrains than it did in 2007, a normal year. That's both an achievement and a failure. It's not enough to grow more food - as India has been able to do - but to distribute it well, which the country hasn't accomplished. The UPA's flagship food security bill...
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A walk on the wild side
-The Economist Government borrowing generates inflation, widens the external deficit and crowds out much-needed investment. Can India now overcome its debt addiction? INDIA has grappled with its public finances for long enough. When presenting its first budget after independence in 1947, the finance minister of the day insisted that the country was not living beyond its means. Yet every budget since has failed to produce a surplus. India borrows more heavily...
More »Budget 2013: Super rich to pay more but no changes in income tax rates or slabs
-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...
More »Economy Survey sharpens debate over 'super-rich tax'
-The Times of India Amid the debate on a super-rich tax, the pre-Budget Economic Survey on Wednesday argued against raising tax rates significantly; instead, it said that the focus should be on people who have a taxable income but don't pay any income tax. "It is much better to achieve a higher tax-GDP ratio by broadening the base which is taxed rather than increasing marginal tax rates significantly — higher and higher...
More »Slash subsidy, raise prices of diesel and LPG: Economic Survey
-PTI Claiming that the "downturn is more or less over", the pre-Budget Economic Survey on Wednesday projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal and made a strong call for cutting subsidises. While pegging the GDP growth at an estimated 5 per cent for the current fiscal, the Survey tabled in Parliament by finance minister P Chidambaram said "...the overall Economy is expected to grow in the...
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