-PTI NEW DELHI: Finance Ministry today agreed to dole out a record Rs 100,000 crore towards diesel and cooking fuel subsidy in 2012-13 but wants pricing formula to be changed from current year to cut down the outgo. Finance Ministry, which had previously given out cash subsidy of Rs 55,000 crore, agreed to give Rs 40,000-45,000 crore more to cover for unmet revenue losses on fuel sale in the fiscal year ending...
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Hope trumps realism-Paranjoy Guha Thakurta
-The Asian Age Sonia Gandhi’s economic and political ideology may have apparently triumphed over that of Manmohan Singh. The neo-liberal finance minister Palaniappan Chidambaram may be conveying an impression that he’s turned socialist with a vengeance by increasing taxes on the rich in the run-up to the 16th general elections. But the truth is that Mr Chidambaram has made certain assumptions about subsidies, inflation and the expected growth of gross domestic product...
More »Budget has failed to address concerns of masses: Karat
-PTI Says sharp decline in fuel subsidies points to a hike in petrol and diesel prices to international levels CPI(M) general secretary Prakash Karat today said that the Union budget has "failed" to address the major concern of the masses and questioned the reason behind cutting oil subsidy and increasing the tax concession for the corporates. "There has been a sharp decline in petroleum subsidy, for diesel, petrol and other oil products....
More »Slash subsidy, raise prices of diesel and LPG: Economic Survey
-PTI Claiming that the "downturn is more or less over", the pre-Budget Economic Survey on Wednesday projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal and made a strong call for cutting subsidises. While pegging the GDP growth at an estimated 5 per cent for the current fiscal, the Survey tabled in Parliament by finance minister P Chidambaram said "...the overall economy is expected to grow in the...
More »Amartya Sen for strengthening Food Security Bill -Aditi Nigam
-The Hindu Business Line Nobel Laureate Amartya Sen on Friday said that the tabling of the Food Security Bill in Parliament was “a big achievement”, but also drew attention to its shortcomings and called for it to be strengthened, especially with regard to child entitlements. He was participating in a panel discussion on ‘Hunger and Nutrition: Time to Act’ held at IIT- Delhi, with Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Shantha...
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