The Union budget estimates the nominal rate of growth for the Indian economy to be 12.5 per cent during the current fiscal. While it is impossible to figure out the manner in which this number was arrived at, the government has predicted further that the inflation-adjusted real growth rate for the same year will be eight per cent. Simple arithmetic requires that the difference between the nominal and real growth...

Agricultural credit flow by cooperative and Public Sector Banks exceeded the target by 13% in 2009-10 financial year. “The flow of credit to the agriculture sector increased significantly and banks have surpassed the target by extending Rs3,67,000 crore worth of loan to farmers,” an Agriculture Ministry official informed. The banks including public sector, cooperative and regional rural banks (RRBs), were set a target to lend Rs3,25,000 crore of credit to farmers last...

CBI feels constrained by need to get consent of States to probe offences in their jurisdictions Draft envisages panel for appointment of CBI Director as laid down by Supreme Court Often under attack from the Opposition parties who accuse the government of the day of misusing it, the Central Bureau of Investigation (CBI) has urged the government to replace the outdated pre-independence era Delhi Special Police Establishment Act that governs its functioning...

To perpetuate a system that assigns a household to a single BPL/APL category in circumstances in which poverty is multi-dimensional is not only bad economics, but unconscionable as well.  The pilot surveys for the next Census of BPL (below-poverty-line) households are due to begin. Discussions are now on to finalise the methodology for the survey, and as the BPL Census is a matter of the subsistence and survival of hundreds...

An inquiry committee appointed by the Supreme Court to look into the functioning of the public distribution system has just turned in a damning report to the effect that the system is riddled with corruption and has virtually collapsed in some states. This observation will not come as a surprise to most people. Indeed, it is not a coincidence that even the Central government’s own Economic Survey mentions the need...