It would be great if the enthusiasm on the financial inclusion agenda gets a pause from the frantic do-gooders . Too many people appear to be enthusiastic about serving the poor - and the kindness is killing. Back in 1956, we discovered that cooperatives were a great instrument to reach out to the poor. These were peoples' institutions, local and would be responsive to the problems of their members. A set of...
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Fertiliser Ministry moots 10% hike in urea prices-Rituraj Tiwari
The fertiliser ministry is mooting a proposal to raise urea prices by 10%. With this proposed revision, which will have to be endorsed by the Cabinet Committee on Economic Affairs, urea prices will go up from Rs 5,310 per tonne to Rs 5,841 per tonne. This will help the government to reduce its annual subsidy burden by around Rs 2,000 crore. At present , the annual urea subsidy bill is in...
More »Come June, bountiful Rabi harvest poses problem of plenty by Rajeev Deshpande & Surojit Gupta
A problem of plenty is looming as by June 1, an estimated 12 million tonnes of foodgrain will have to be stored in the open in "kutcha plinths" with a bountiful Rabi harvest and procurement of 65 million tonnes of grain boosting food stocks to record levels. With states like Madhya Pradesh - apart from the wheat baskets of Punjab and Haryana - delivering bonus yields, food stocks are expected to...
More »Pranab Mukherjee, Minister of Finance interviewed by Lola Nayar and Sebastian PT
Despite the high-theatrics rollback of the Railway Budget, the government is confident of being able to push ahead with the reforms agenda. Despite the high-theatrics rollback of the Railway Budget, the government is confident of being able to push ahead with the reforms agenda. In an e-mailed post-Budget interview, Union finance minister Pranab Mukherjee took questions from Outlook’s Lola Nayar and Sebastian P.T. Edited excerpts: The government has managed to get UPA...
More »CAG slams Modi regime for financial irregularities by Manas Dasgupta
The Comptroller and Auditor-General has slammed the Narendra Modi government for financial irregularities, particularly for mismanagement of public sector undertakings, resulting in losses of over Rs. 16,000 crore. It has come down heavily on the state-owned Gujarat State Petroleum Corporation (GSPC) for extending “undue benefits” to the Chief Minister's “favoured few,” mainly Adani Energy and Essar Steel companies, which coupled with its poor management and faulty agreements on exploration of oil...
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