-The Business Standard Cautious optimism about the revival of the monsoon  A progressive improvement in the monsoon, after a dismal June that saw rainfall deficient by over 30 per cent, has eased some worries over kharif crop production. Since then the rainfall deficit has been halved to 15 per cent, dispelling fears of a situation as bad as in 2009, when severe drought lowered foodgrain production by seven per cent. In addition,...

-The Economic Times The economic and social impact of reduction in petroleum subsidies in India will be much lower than perceived if a cash transfer system for directly subsidising vulnerable consumers is successfully implemented, studies commissioned by the Geneva-based International Institute for Sustainable Development have said. The government must, however, dismantle subsidies in a calibrated manner as vulnerable consumers will be able to adjust better if the under-recoveries are gradually eliminated, cautioned...

-The Telegraph One Singh has told the Congress what another Singh probably wants to: create a political environment conducive for reducing subsidies. Planning Commission deputy chairman Montek Singh Ahluwalia has told Congress MPs that subsidy cuts are essential if India has to preserve its growth momentum — a statement more in line with the known views of Prime Minister Manmohan Singh than the populist line preferred by many Congress leaders. Many Congress MPs,...

-The Hindu Even as UPA-II and the Opposition are bracing themselves for confrontation in and outside Parliament over coal blocks allocations during 2004-09, the Prime Minister’s Office and the Coal Ministry are ready with their defence: the policy imperative was to augment production by supplementing Coal India’s efforts with private participation within the parameters of law. According to documents available with The Hindu , the arguments, which the government hopes to present...

-The Economic Times Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet. While a hike in Diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh...