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Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates

Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...

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Ploughing a lonely furrow -Devinder Sharma

-DNA India is expected to bear the brunt of $160 billion trade-distorting farm subsidies provided by developed nations like the US At a time when angry farmer protests seeking an increase in the Minimum Support Price (MSP) for all crops is on an upswing, India faces an uphill task to protect its food procurement operations at the forthcoming Buenos Aires Ministerial of the World Trade Organisation (WTO) from December 10-13. At...

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Crop insurance revisited

-The Hindu Business Line India should fine-tune its scheme to make it WTO-compliant The fact that the Centre’s new crop insurance scheme has hit a WTO speedbreaker does not really surprise. The EU, Canada, Australia and Thailand have implicitly said that in its present form, insurance payouts cannot readily be placed in the ‘green box’ — one that exempts certain expenditures from farm subsidy calculations for WTO purposes. They have, in effect,...

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Crop insurance or deficiency payments? -Sukhpal Singh

-Livemint.com The most glaring implication of the proposed deficiency payments is that it makes the state give up its responsibility of intervening in markets During the past few months, there has been a highly contested debate on the merits, viability and feasibility of crop insurance in India given the large number of small farmers and the large amount of subsidy involved that is not being effectively used as the coverage of...

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WTO has a point in objecting to India’s food security act -Ashok Kotwal, Milind Murugkar and Bharat Ramaswami

-The Hindustan Times Misunderstandings about the World Trade Organization (WTO) are pervasive. The media coverage of the recent WTO meetings at Bali has added to the confusion. The bone of contention was the government procurement of the food grains in India under the National Food Security Act. The final outcome is a stopgap arrangement that has bought the Indian government some time; most importantly, it does not have to undertake any...

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