Avoiding debt trap
The government needs to be congratulated for its bold initiative in reducing subsidies. We are at last seeing real reform, and hard decisions are finally being taken. Subsidies have acquired the status of sacred cows, and attacking them requires courage.

Onus is on states
While the Centre is at long last trying to face budgetary realities, its effort to cut subsidies runs the risk of being scuttled by state governments. The immediate reaction of the Maharashtra government to the increase in PDS prices was to announce that prices in the state would not be raised.

Tax reliefs for corporate sector overdue
The countdown to the budget begins in this country with also the countdown to the Finance Bill which ritually accompanies the budget and which makes important changes in the tax laws. Much is expected from this year's Finance Bill, more so for the corporate sector.

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  Raymond -- The story continues
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