China is fast catching up as a global economic power, while the public perception around the world is that the US still re

Qatar will take legal action against Saudi Arabia, the UAE, Bahrain and Egypt, over the damage caused to the country due t

India has emerged as the economic pole of global growth by surpassing China and is expected to maintain its lead over the

The passage of the GST Bill by the Jammu and Kashmir legislature would be scripted in "golden letters" as it is a big suce

Saudi Arabia and Arab allies that have cut ties with Qatar will hold talks in Egypt today on the Gulf diplomatic crisis, a

The Uttar Pradesh government has incurred a loss of about Rs 5,000 crore following the Supreme Court order banning all liq

The "shadow economy" in India will shrink to 13.6 per cent of the GDP by 2025, a study by Association of Chartered Certifi

Implementation of the GST will be positive for India's rating as it will lead to higher GDP growth and increased tax reven

The Seventh Pay Commission and implementation of GST has put inflation in an uncertain zone, and prices are expected to ri

Chief Economic Adviser Arvind Subramanian today exuded confidence of resolving teething problems of GST implementation in

From Lalit K Jha

Washington, Feb 2 (PTI) Welcoming the "forward-looking" annual budget presented by Finance Minister

Washington, Feb 1 (AP) The Federal Reserve has left its key interest rate unchanged at a time of solid economic gains but

Beijing, Feb 1 (AFP) Manufacturing activity in China slowed slightly in January, official figures showed today, as the wor

Shimla, Feb 1 (PTI) Himachal Pradesh Chief Minister Virbhadra Singh today described the budget as "disappointing and dishe

New Delhi, Feb 1 (PTI) Finance Minister Arun Jaitley today described demonetisation as "bold and decisive" measure saying

New Delhi, Feb 1 (PTI) Government's move to enhance rural spending through welfare schemes like MGNREGA and reduction in t

Thiruvananthapuram, Feb 1 (PTI) CPI(M) led LDF governmnet in Kerala today said Union budget was 'disappointing' and had fa

much-needed boost to rural economy for an inclusive growth.

"Allocation of a record Rs 1.8 trillion towards rural, a

did not see much. We wanted funds for the IT sector but that has not been talked about," Mastek' Ashank Desai said.

Mumbai, Feb 1 (PTI) India Inc today hailed the Modi Government's third Budget as growth-oriented and said the proposals wi

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...

More here

HT: Kajal Chakravarti