-The Business Standard In Budget, reformers win, NAC loses The consensus opinion that has developed about the 2012-13 Budget presented by Finance Minister Pranab Mukherjee on Friday is that it was unambitious, especially in terms of reworking government spending. It delivered little in terms of a vision for reform, the argument goes, constrained as it was by the spending-hungry allies in the United Progressive Alliance (UPA) and the entitlement-hooked Congress leadership. A...

The Economic Survey 2011-12 showcases the dividends of economic liberalisation started by the ruling party. But admits: Growth is not possible without agriculture During the last financial year there were talks of the Indian economy finally decoupling from agriculture thus monsoon. The Economic Survey of 2011-12 disagrees with that. The survey has re-emphasised that whatever economic Growth happened in the last fiscal it was due to agricultural Growth. India recorded the...

-Bloomberg   World food prices will drop this year as increase in unemployment in developing and developed countries slows Growth in demand, the United Nations said.   “We have started to see a decline in food prices,” Jose Graziano da Silva, director general of the UN’s Food and Agriculture Organisation, said at a conference in Hanoi on Thursday. World economic expansion will slow to 3.3% this year from 3.8% in 2011, according to the International...

The second green revolution found a mention in the Union Budget as a big achievement for the government. But, while paddy production went up manifold in eastern India, did it help its producers? In Finance Minister Pranab Mukherjee’s home state of West Bengal, there was agony everywhere in the last few months, as paddy and potatoes were selling cheap and pauperised cultivators were killing themselves. The government was nowhere to procure...

An opportunity has been forsaken to strengthen our economic fundamentals while improving the lives of the people, increasing the divide between India Shining and India Suffering. While the people were hoping for relief in the current budget, the Finance Minister was faced with the task of reversing the slowing Growth rate and raging inflation. He had a choice in this budget. He, however, chose a path that is going to worsen...