In December 2011, CAG tabled a well-analysed audit report in Parliament claiming a loss of 1,200 crore, or $250 million, on the import of subsidised pulses through 2006-11 under the supervision of department of consumer affairs (DCA) of the food ministry. The government's intention to introduce such a scheme cannot be faulted: during 2005-08, seven million tonnes of wheat was imported at high prices, chana (chickpeas) values spiked from 21...
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Steep petrol price hike in the offing?
-The Times of India With elections in five states out of the way, the government-run fuel retailers on Monday ratcheted up their demand for an increase in petrol prices by as much as Rs 5 a litre. The demand could leave the government with a political cleft stick, coming on the day Congress received a severe drubbing in the assembly polls. Piling losses of state-run firms appear to leave little choice for...
More »UPA’s elbow room to push crucial reforms may shrink
-The Indian Express The Samajwadi Party’s sweep in India’s biggest state, Uttar Pradesh, and Congress’s defeat in Punjab and Goa will further shrink the elbow room the Congress-led UPA government at the Centre has to push through key initiatives such as foreign direct investment (FDI) in multi-brand retail, pension reforms and legislation such as the goods and service tax (GST) that require support from states. The Centre had postponed some of these...
More »SP set to form govt in Uttar Pradesh; blow for Congress
-Reuters The Congress party trailed in fourth place as vote counting neared its end in Uttar Pradesh on Tuesday, a bitter election blow to Rahul Gandhi who had staked his political future on reviving his party's fortunes in the state. Gandhi, scion of the Nehru-Gandhi dynasty that ruled India for most of its 65 years of independence, had campaigned tirelessly to revive his party in the politically crucial state where it has...
More »FDI in retail will harm small farmers, says agri marketing body
-PTI State agriculture marketing boards today said FDI inmulti-brand retail will harm farmers, particularly small and marginal peasants. "Farmers are certainly going to be affected if FDI into multi-brand retail is given a go-ahead. It will mainly cause concerns to small and marginal farmers who have less than four hectares of land," the National Council of State Agricultural Marketing Boards (COSAMB) Managing Director S S Randhawa said while addressing a farmers' meet...
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