-Hindustan Times Finance Minister Arun Jaitley's claims of already having achieved an economic turnaround, made in his budget speech, evoke suspicion. Inflation is certainly down and so is the current account deficit, but that has almost entirely to do with the crash in international crude oil prices, which have fallen from $110 per barrel in June 2014 to around $57 per barrel currently. In fact, rather than passing on the full...
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Social spending cut first time in a decade
-Hindustan Times The government slashed plan expenditure by about 20% in the 2015-16 budget amid fiscal concerns, hitting spending on social sectors such as education and women's empowerment that were the focus areas of the previous UPA administration. In the 2014-15 budget, Arun Jaitley allocated Rs. 5,75,000 crore for plan expenditure, or money that goes towards creation of productive assets, but could spare only Rs. 4,65,277 crore this time. This is also...
More »Panchayat schemes off Centre table -Basant Kumar Mohanty
-The Telegraph New Delhi: Eight central schemes have been left to states following the Centre's decision to raise their share of federal taxes, but this has left the Union panchayati raj ministry almost jobless. The schemes de-linked from central support are: Backward Regions Grant Funds (BRGF) of the panchayati raj ministry; Rajiv Gandhi Panchayat Sashaktikaran Abhiyaan (RGPSA) of the panchayati raj ministry; E-governance...
More »Activists cry foul as WCD Ministry funds slashed by half -Abantika Ghosh
-The Indian Express Little over a month ago, Prime Minister Narendra Modi had launched the ‘Beti Bachao Beti Padhao' scheme from Panipat with much fanfare. On Saturday, his government slashed the allocation for the Women and Child Development Ministry by more than 50% from last year's allocation. Finance Minister Arun Jaitley allocated Rs 10,382 crore for the ministry. Last year, the allocation was Rs 21,193 crore of which the ministry managed...
More »After UPA-like noise, big slash
-The Telegraph New Delhi: Finance minister Arun Jaitley today promised gifts for children, women, patients and the poor but slashed his government's funding across the social sectors. Budget outlays for education, health, rural development, social justice and women and children have fallen sharply or remain close to the outlays these sectors had received last year. The allocation for children under the women and child development ministry witnessed the sharpest fall from last...
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