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How to slash power subsidies by Ajay Shankar

The irrationality and waste in energy subsidies in India has been a perennial theme in analysis of the Indian economy and in reform prescriptions. Progress has, however, turned out to be elusive in the face of ground realities and feasible politics.  The power ministry, after struggling for over a decade through repeated exhortations, had the satisfaction of getting a resolution in a Chief Ministers Conference in 2001 that free supply of...

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It will not stop at Rs 60,000 crore by Soumya Kanti Ghosh

How economically sustainable is food subsidy? The cost could even be double of what the government estimates Food deprivation and malnutrition are completely unacceptable and everything has to be done to eliminate such an evil. The prevalence of malnutrition in a country like India is in itself a cause for serious concern since malnourished children may jeopardise India’s favourable demographic dividend (as per independent estimates, close to 60 per cent of...

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Agri Min pitches for crop loan at 3% in Budget

-PTI   In its Budget wish-list, the Agriculture Ministry has demanded lowering of interest rate on crop loans to 3% for those farmers who pay in time, from the existing 4%. According to sources, the ministry has suggested an additional 1% interest subvention (subsidy) on short-term crop loans of up to Rs 3 lakh to farmers who pay their dues on time. Other farmers get crop loans at seven% interest rate. The 2012-13 Budget...

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Fertiliser subsidy to hit Rs 1 lakh crore; ministry to seek more funds by Rituraj Tiwari

The fertiliser ministry may seek more funds from the finance ministry to meet its subsidy obligations as it needs more than the allocated amount to take care of the rising subsidy bill, a top official said.  "We have already received 17,700 crore in addition to the budgetary allocation of around 50,000 crore. But we still need more funds, and the amount will be finalised in consultation with the finance ministry," said...

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Time to end West's Farm subsidy as a condition for funding European bailouts: Swaminathan A Aiyar

-The Economic Times   The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone.  But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...

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