-The Economic Times Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet. While a hike in diesel and Cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh...

-The Indian Express   Time to take the bolder steps, bring FDI to small towns When the GDP falls below 7 per cent, we need to start worrying. When it is less than 6 per cent, we must treat it as a crisis situation. Growth models show that the robust investment rates already achieved, and twice the productivity growth achieved in the 1980s and ’90s, will get us 8 per cent growth. This...

Prime Minister Manmohan Singh's direct involvement in the finance ministry has renewed reform vigour among officials, who plan steps to reform fuel pricing and accelerate domestic oil exploration, government and industry officials said. According to officials fuel pricing reforms are expected after mid July post Presidential poll, which would include a hike in diesel rates by atleast Rs 3 per litre and limiting highly subsidized Cooking gas cylinders to four refills...

Plans are afoot to cap the number of subsidised LPG cylinders at six to eight per annum to reduce the losses of state-run oil firms and bring down the burgeoning subsidy bill. Oil ministry officials said consumers might have to pay more for every additional cylinder, and the amount would be gradually linked to market rates. Sources said the finance ministry had asked the oil ministry to revisit its proposal made last...

The “committee” promised by the Goalpara administration to clear the paltry sum of Rs 200 to fund midday meals in Belpara primary school in the district has not materialised yet, leaving its 40 students in the lurch. The promise came on June 12, almost a month after the May 13 abduction of the school’s headmaster, Kameshwar Rabha, and another teacher by suspected GNLA militants while they duo were riding back home...