-The Hindu The flagship programme will now include LPG subsidy Admitting that the UPA government's ambitious flagship Direct Benefits Transfer (DBT) programme had run into unanticipated "difficulties" since its roll-out in January this year, Prime Minister Manmohan Singh on Friday exhorted the departments concerned to renew efforts for its successful implementation. Dr. Singh pointed to the "unsatisfactory nature of tracking and monitoring" systems of the scheme which had the potential of "transforming...
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Banks 'distrust’ Aadhaar for cash transfer scheme rollout -Nitin Sethi & Sidhartha
-The Economic Times In what could hobble the government's plans to give Aadhar a key role in banking and a central pin of the direct cash transfer scheme, several state-run banks have refused to bear any liability for transactions done with customers that were authenticated through the unique identity (UID) mechanism. Banks and the Reserve Bank of India (RBI) had been convinced by the finance ministry to use Aadhar to fulfill the...
More »No tax relief for SEZs, rules Chidambaram -Sidhartha
-The Times of India In a major setback to special economic zone (SEZ) developers, finance minister P Chidambaram has turned down the commerce department's plea to cut the minimum alternate tax (MAT), which was imposed two years ago. A lower or no tax burden was cited as one of the main drivers for boosting investment in what were until recently duty-free enclaves. The commerce department had made a case for reversing Chidambaram's...
More »Turf tiff over Nirbhaya fund -Ananya Sengupta
-The Telegraph Ministries are in the dark over control of the Rs 1,000-crore "Nirbhaya Fund", announced in last month's budget and named in the Delhi gang rape victim's memory, despite government declarations of urgency in dealing with women's safety issues. While some ministers believe the home ministry will be the nodal agency to handle the funds, others reckon that the finance ministry will take the reins and disburse the cash to ministries...
More »Jairam wants financial institution for self-help groups-Priscilla Jebaraj
-The Hindu "If we are going to be serious about supporting women's SHGs, then we need a development finance institution" Finance Minister P. Chidambaram's proposal to establish a bank exclusively for women - which he described as the highlight of this year's budget - may have garnered applause from across party lines in Parliament and could be set up as early as October; but that hasn't stopped his Cabinet colleague and Rural...
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