The reduced allocation to the UPA government’s flagship rural programme NREGA could see revenue growth in the FMCG sector falter. Consumer staples firms have been relying on rural demand growth to bolster their top line but the reduced allocation to the Mahatma Gandhi National Rural Employment Guarantee Scheme (NREGA) for the financial year 2012-13 could see growth in FMCG sales in rural areas being crimped feel industry experts. Finance minister Pranab...
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Budget 2012: Farce of food subsidy being played out again-Nidhi Nath Srinivas
The UPA-II has used the Budget to again play politics with hunger. But it has paid no heed to the ticking time bomb of growing social tensions as 58 million Indians living off agriculture slide deeper into poverty. The Economic Survey says more than half the population is dependent on a sector whose share in the economy is shrinking. The urban-rural income divide is therefore steadily widening, a tinder box that...
More »Building on Aadhaar
-The Business Standard In Budget, reformers win, NAC loses The consensus opinion that has developed about the 2012-13 Budget presented by Finance Minister Pranab Mukherjee on Friday is that it was unambitious, especially in terms of reworking government spending. It delivered little in terms of a vision for reform, the argument goes, constrained as it was by the spending-hungry allies in the United Progressive Alliance (UPA) and the entitlement-hooked Congress leadership. A...
More »5.3 % share for children in Budget-Aarti Dhar
As much as 5.3 per cent of the Union Budget for 2012-13 is Budget for Children (BfC) with an increase of 0.3 per cent since 2011-12. This must be set against the inflation rate of 6.6 per cent. The increase can be attributed to the increased allocation in the development sector by 66.2 per cent and health by 29.7 per cent. However, as always, the share of the protection sector remains...
More »Food Bill implementation to entail Rs 1.12 lakh crore subsidy
-PTI Implementation of the National Food Security Bill will entail a subsidy of a whopping Rs 1.12 lakh crore, Food and Consumer Affairs Minister K V Thomas informed the Rajya Sabha today. Food subsidy as per 1993-94 poverty line and 2000 population census is Rs 88,976 crore and as per the 2011 census it would be Rs 197,096 crore, he said during Question Hour. Additional food subsidy burden for 2012-13 is estimated at...
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