-The Times of India Fears that policy paralysis will continue after the Congress party's poor show in the Uttar Pradesh assembly elections unnerved investors, and the sensex lost 190 points on Tuesday to end the day at 17173, its worst close in six weeks. The trepidation in the markets also affected shares of a few Anil Ambani-promoted Reliance Group companies, even though they were actually expected to gain because of the...

-Live Mint High on hype, the budget speech of the Union finance minister today is merely a statement of account. As India’s economy diversifies—with the private sector playing an increasingly important role—this annual feature has assumed much lower salience. Not only have fiscal policies lost the space they enjoyed in earlier years, even major policy announcements are restricted to being mere statements of account. Examples from other arenas include “activism” on...

No one will deny that the least a democratic government can do for its people in a civilised society is to ensure access to food at affordable prices. Ensuring food security is, therefore, a fundamental responsibility of the state. Public distribution system (PDS) is the instrument through which food grains are made available to targeted beneficiaries. Government's resolve to provide for food security is laudable.  At the same time, it does...

-The Times of India Making a strong pitch for raising diesel prices, Prime Minister's Economic Advisory Council chairman C Rangarajan on Wednesday said there was a need to revise prices to reduce the huge subsidy burden and bring down the Fiscal deficit.  While releasing the economic review for 2011-12, Rangarajan said it was earlier agreed to deregulate diesel prices but the decision was never implemented. He advocated a phased deregulation of diesel...

-PTI Amid widening Fiscal deficit, Prime Minister's economic advisory panel today suggested aligning diesel prices to global market in a phased manner and also raising excise and service taxes to pre-crisis level of 12%. Releasing the Review of the Economy: 2011-12, Chairman of Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan also pitched for deregulation of urea prices. Expressing concern over high Fiscal deficit which is expected to overshoot the target of 4.6%...