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Finance Minister Arun Jaitley today sounded a note of caution on protectionism, saying the world should debate whether it
Prime Minister Narendra Modi today said the consensus on Goods and Services Tax (GST) reflects the spirit of 'one nation,
President Pranab Mukherjee today said days are not far off when India's economy will be among the top five in terms of abs
Emerging markets face newer challenges in the form of inward looking policies of protectionism and increased geopolitical
Britain is set to formally file for a divorce from the EU after Prime Minister Theresa May today signed a letter to notify
Indian markets are well placed to absorb the 0.25 per cent interest rate increase by the US Fed last night, the finance mi
Note ban has hit the national capital's economic growth and "forced" the city government to cut spending on various develo
Prime Minister Theresa May has faced her first parliamentary defeat over Brexit after Britain's upper house voted to amend
India's economy expanded by 7 per cent in the third quarter of this financial year, belying fears that note ban would have
The positive effects of demonetisation will be visible from April and the completion of remonetisation process will drive
Rahul Gandhi's father had said that out of every rupee of government money spent in the name of poor and on development, only 15 paise reaches the intended target. Rahul Gandhi himself brought the figure down to 10 paise during his election campaigns. Leaving aside the developmental work, the same leakages are present in various anti-poverty programmes. Economists have often argued that instead of schemes that make leakages possible, direct cash transfers might actually be the best way to tackle poverty. Writing in the Indian Express, Bibek Debroy revisits the theme:
Studies by assorted economists show that if subsidies are replaced by direct cash transfers, there shouldn’t be any BPL (below poverty line) households left, an argument that becomes stronger if all anti-poverty expenditure is included, not just subsidies. The transfers are revenue neutral. They are also efficient because they don’t distort market prices. Technology now permits direct electronic transfers to bank accounts and all NREGA beneficiaries now have accounts with post offices or banks. This reduces administrative costs of delivery too, other than making subsidies transparent, more amendable to third-party and public scrutiny.
He goes on to list and counter the strange arguments that are trotted out in response whenever cash-transfers are mentioned and makes a strong case for identifying the non-poor if UPA II is serious about helping the poor:
The problem is elsewhere. Accepting cash transfers is equivalent to recognising the non-poor won’t receive subsidies. It requires pinning down the “aam aadmi”....
...With 300 crorepatis in the Lok Sabha, how about giving them MNICs [multi-purpose national identity cards] and accepting they are non-poor? If we are serious, we begin somewhere. And if we aren’t, we muddle along, with all the fiscal consequences
Read the full article: Who's The Aam Aadmi?
In romance, and in finance, a seduction that relies on logic could be a play, shows John Allen Paulos in abcnews.com
Suppose a man flirts with a woman and then asks her, "Will you solemnly promise to give me right now your telephone number if I make a true statement and, conversely, not give me your number if I make a false statement?" ...
The man then makes his statement: "You will neither give me your telephone number now nor will you sleep with me tonight."
What's the trick? Note that she can't give him her number since, if she were to do so, his statement would be made false, and so she would have broken her promise to give him her number only if he made a true statement. (This is the crux of it.) Therefore, she must not give him her number under any circumstances.
But if she also refuses to sleep with him, his statement becomes true, and this would require her to give him her number.
The only way she can keep her promise is to sleep with him so that his statement becomes false. The woman's seemingly innocuous promise ensnares her...
HT: Kajal Chakravarti