-The Hindu Direct cash transfer of subsidies through the Aadhaar card would be rolled out in 51 districts across 15 States from January 1, 2013, Union Finance Minister P. Chidambaram announced on Saturday. The scheme would aim to cover the entire country by the end of 2013, he said. Speaking at the annual Bankers’ Conference (BANCON), Mr. Chidambaram said banks would play an essential role in the direct cash transfer, as every...
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Cash transfer: PM to play UPA-2's trump card on Monday
-The Times of India The Prime Minister is expected to formally kick off cash transfer of subsidies and entitlements, one of the most ambitious policy initiatives of UPA-2, on Monday. The scheme for cash transfers is visualized as a game-changer for UPA-2, like NREGA was for UPA-1, and is expected to give rich dividends at the elections. Manmohan Singh is expected to set January 1, 2013 as the launch date for the...
More »RBI Rules Out Introduction of Islamic Banking
-Outlook Kochi: Reserve Bank Governor D Subbarao today ruled out introduction of Islamic banking in the country but said other methods for channelising funds based on the principles of Islamic law can be looked at. "Islamic banking is not possible", he said, adding the central bank could look at other vehicles based on Islamic banking principles to channelise NRI funds. Replying to a question on the issue, Subbarao said: "There are some legal...
More »Farm trade paints an optimistic picture of the economy-Ashok Gulati and Surbhi Jain
-The Economic Times It has never happened since Independence. May be not even in the last 1,000 years what happened during October 2011-September 2012. India exported 10 million tonnes of rice, valued at around $6 billion, becoming the largest exporter of rice, replacing Thailand and Vietnam, generally the two largest exporters of rice. This is now known to many in rice circles. But what is little known is that in 2011-12, India also emerged...
More »Pitfalls for subsidy targeting -Subir Roy
-The Business Standard Cash transfer is targeted at the poor, but Aadhaar has no role in identifying the poor The disbursement of subsidies through direct cash transfers is round the corner. It will begin in 51 districts in the new year, just over a month away, and in half the country in four months’ time. So it is important to ask: do we have the capability to take on this job,...
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