Low tax mop-up to be compensated

States with high revenue deficits, like West Bengal, Uttar Pradesh, Gujarat and Maharashtra, are likely to benefit most from the recommendations of the Twelfth Finance Commission, if they are......

Check on borrowings must

The Medium Term Fiscal Reforms Programme for the states has failed to effectively tackle their rising revenue deficits and burgeoning debt, according to a review by the finance ministry.Also......

Subir Gokarn, a fierce proponent of RBI autonomy, is no more

Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit. Former Reserve Bank of India......

'We have had one bad year, we will get out of it': Dr Singh

The most immediate cause of worry is the recent volatility in foreign exchange markets, says Prime Minister Manmohan Singh. Let me begin by stating upfront that we, like most other countries, are......