Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...
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Mandatory cheap foodgrains for poor may cause hike in oil prices by Gargi Parsai
It is the availability of adequate foodgrains to meet the mandatory requirements under the proposed National Food Security Bill that worries the government, not the enhanced subsidy such a move would entail. From what the government is planning it appears that the subsidies on petroleum products would go to meet the requirement of providing cheap foodgrains to the poor under the Public Distribution System (PDS) and to bring the Above...
More »No misuse of SSA funds: HRD Ministry
The Human Resource Development Ministry has refuted allegations of misuse of grants provided by the U.K. Department for International Development (DFID) for the Sarva Shiksha Abhiyan (SSA), as reported in the media. In a statement issued here, the Ministry said expenditure under the SSA was incurred as per well-defined norms articulated in the SSA Framework of Implementation and the Manual of Financial Management and Procurement. Up to 6 per cent of...
More »Govt shocked over reports on embezzlement of UK grants in SSA
The government on Tuesday expressed shock over reports of embezzlement of UK grants in Sarva Siksha Abhiyan scheme and said that the flagship programme follows "rigorous and robust monitoring system". A day after the British government launched an inquiry into the alleged misuse of its funds under SSA, Department of School Education and Literacy under HRD Ministry here said it will write to the Ministry of Finance and Ministry of External...
More »Memories at public expense by Ramachandra Guha
Judging by the television news that night, May 20, 2010, was a day like any other — marked by natural disaster (a cyclone predicted for Orissa), violent rebellion (the blowing up of railway tracks by Maoists in Bihar), political partisanship (the insistence by Mamata Banerjee that the Union railways minister would be of her party even if she soon moved, as she hoped, to become chief minister of West Bengal),...
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