-The Economic Times Repressed, unrevised retail prices by fiat have led to rising diesel consumption nationwide, thoroughly misallocating resources and recklessly fretting away scarce budgetary funds in the bargain. The government needs to promptly decontrol diesel prices and put paid to open-ended oil consumption subsidies, as it has rightly proposed to in the Union Budget.  Further dither and non-decision would wreak havoc in government finances and hook the fiscal deficit figure over...

The housing and houselisting census data do not paint a rosy picture of India in terms of basic amenities for its households. The data on household amenities and assets, released recently by the Office of the Registrar General and Census Commissioner of India, are a stark reminder of the immense disparities that exist in India in terms of basic entitlements such as electricity, sanitation facilities, proper drainage, and clean drinking and...

The Comptroller and Auditor-General has slammed the Narendra Modi government for financial irregularities, particularly for mismanagement of public sector undertakings, resulting in losses of over Rs. 16,000 crore. It has come down heavily on the state-owned Gujarat State Petroleum Corporation (GSPC) for extending “undue benefits” to the Chief Minister's “favoured few,” mainly Adani Energy and Essar Steel companies, which coupled with its poor management and faulty agreements on exploration of oil...

-Economic and Political Weekly   Budget 2012, built yet again at the altar of fiscal fundamentalism, will not convince anybody. In this era of immediate assessment it took just a few minutes for the Union Budget for 2012-13 to be given one or the other negative appellation – “lacklustre”, “anti-growth”, “back to the 1980s”, “without reform” and the like. Such evaluations forget that union budgets have long since ceased to be statements of...

One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...