The Hindu Business Line : Tuesday, July 27, 2004

EDITORIAL
A taxing prescription
THE REPORT OF the Task Force headed by Dr Vijay Kelkar, Advisor to the Finance Minister, on the implementation of Fiscal Responsibility and Budgetary Management (FRBM) Act, substantially reiterates the points made by another Task Force, ... More

BUDGET
Budget: `Core' weaknesses not addressed
The Budget was expected to give a major boost to infrastructure in the country. However, the measures announced may not quite be enough for the scale and speed of development needed. More

ECONOMY
Fiscal responsibility versus democratic accountability
The UPA Government has notified the Fiscal Responsibility and Budget Management Act, and declared that it will abide by it. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh argue that this Act has adv erse implications for economic growth and democracy, and also that the Kelkar Task Force's projections of revenue increase through tax reform are over-optimistic. This means that this Act may require cutting back on so cially necessary expenditure. More

Human Development Report: The good news and bad news
UNDP's Human Development Report has praised many aspects of the Indian culture and resilience while simultaneously painting a pathetic picture of the economic state of the nation. But one would necessarily have to be selective about the information given in the lengthy report that highlights the contrasts and contradictions of Indian society, says Paranjoy Guha Thakurta. More

POLITICS
To save polity, PM must assert his authority
IN THE few weeks Dr Manmohan Singh has been Prime Minister, he has given the impression of being a self-effacing bystander helplessly watching the happenings around him, rather than one at the helm of affairs enjoying ... More

LETTERS

Implementing recommendations

Sobering thought

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Looking back
Jul. 18-Jul. 24
Further reflections on the Budget

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