Budget 2011-12 marks a sharp retreat of the government from the social and economic sectors. It has cut back expenditures in sectors that matter to common people, especially the poor. On the other hand, it has given huge concessions to the corporate sector in the form of tax cuts and exemptions. Let us take the overall fiscal stance of the budget. The underlying strategy is to reduce its fiscal deficit to...
More »SEARCH RESULT
Total Matching Records found : 7448
No provision for Food Security Bill by Gargi Parsai
There is no provision for the proposed National Food Security Bill in the budget proposals for 2011-12. The Bill will necessarily enhance the food subsidy as wheat and rice are to be made available at Rs.2 and Rs.3 a kg to the beneficiaries, but the budget does not reflect this. Finance Minister Pranab Mukherjee did make an announcement about bringing to Parliament the Bill “during the course of this year” but did...
More »Budget 2011: Pranab focuses on social sector
Union Finance Minister Pranab Mukherjee presented Budget 2011-12 in Parliament on Monday promising to stimulate growth and bring down inflation. Admitting that food inflation remains a matter of concern, Pranab said that the economy could have performed better. He said that the development needs to be more inclusive while announcing increased outlay on social sector schemes. "Total food inflation is down from 20.2 per cent last year to 9.3 per cent...
More »Food nod to Team Sonia by Radhika Ramaseshan
The budget is a “mixed bag” for the Sonia Gandhi-led National Advisory Council, said members. It promises to bring in the National Food Security Bill that the Congress chief hopes will signpost UPA-II’s continuing commitment to social and economic inclusion in the way that the Mahatma Gandhi National Rural Employment Guarantee Act did UPA-I. But finance minister Pranab Mukherjee’s restatement of the Centre’s position on indexing MNREGA wages to the consumer price...
More »Union Budget 2011 to bring in food Bill for poor
India's finance minister announced on Monday a food security Bill for 2011/12, a measure that would provide cheap grains for millions of India's poor but which has sparked worries of a huge fiscal cost. It was one of the first signs of populism in the annual budget as Prime Minister Manmohan Singh confronted high prices and corruption scandals as well as elections in five states this year. In his ongoing budget speech,...
More »
