Two key issues Budget-2011 is seen as having failed to address are inflation and mass hunger. Finance Minister Pranab Mukherjee announced in his budget speech that the long-promised National Food Security Bill would be moved in Parliament “during the course of this year” but failed to make any financial allocation to back up this statement. Against the backdrop of fresh warnings by experts that the outlook is grim given the...

The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...

Is price rise going to be a permanent fixture because of India's high growth rate? This appears to be the argument put forward by the government's top economic advisers in the recently issued Economic Survey. It argues that historical experience shows that consumer prices increase faster in countries going through a fast growth phase compared to those with slower growth rates. But analysing inflation and growth data collected by the International...

The unbridled manufacture and use of pesticides in Asia is raising the spectre of "pest storms" devastating the region's rice farms and threatening food security, scientists have warned. Increased production of cheap pesticides in China and India, lax regulation and inadequate farmer education are destroying ecosystems around paddies, allowing pests to thrive and multiply, they said. The problem has emerged over the last decade and -- if left unchecked -- pests could...

With food inflation hovering in the double digit bracket for most part of 2010-11 and the aam aadmi up in arms, all hopes were pinned on the Union Budget 2011-12 for giving a new fillip to the farm sector. But the budget has disappointed most, in spite of finance minister Pranab Mukherjee allocating Rs 14,744 crore for agriculture. “An increase of only 2.6 per cent over last year makes the...