-Livemint The development economist on the Modi government's initiatives and his stand on them, and MGNREGS The Narendra Modi-led government should consider replacing inefficient subsidies with a basic monthly income for all citizens, says Pranab Bardhan , emeritus professor of economics at the University of California at Berkeley. Bardhan, who recently sparred with economists Jagdish Bhagwati and Arvind Panagariya in a debate over the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS),...

-The Hindu Business Line   Wants PAN used in payments over ₹1 lakh, cap on amount of cash a person can keep Income Tax authorities have traced about ₹4,500 crore in undisclosed money in bank accounts overseas, a Special Investigation Team (SIT) probing the matter said in its second report to the Supreme Court. The report, released on Friday, said investigations are pending in 33 cases involving an amount of ₹14,957.95 crore, and that...

-The Indian Express Cash in the hands of the poor can transform their lives. With bank accounts and an Aadhaar card for all becoming a reality, it is possible to transfer money directly to the poor and check middlemen who siphon away funds. Cash transfers (CTs) come in many forms. They may be conditional or unconditional, selective or non-selective, targeted or universal. Some types of CT are as susceptible to misuse as...

-The Hindu It is not the responsibility of the government alone to act in order to curb corruption; corporate firms need to be proactive as well in checking fraudulent financial practices The winter session of Parliament witnessed a noisy debate on the black money controversy. Governments of all hues have disappointed the Indian janata on the issue of black money and the failure is often associated with a perceived nexus between politicians...

-The Hindu Providing people with a modest basic income instead of subsidies would save public revenue With oil prices falling, it was perhaps a good time to fade out fuel subsidies. All subsidies are inefficient and distortionary, and most are regressive. The same could be said of costly public works schemes as well. By contrast, the debate on direct benefit transfers has moved into a more sensible phase, with the posturing criticism of...