-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
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Goa's Mining Logjam -Pamela D’Mello
-Economic and Political Weekly The stage is all set for the resumption of iron ore mining in Goa after it was suspended in the state in 2012, to curb its indiscriminate and illegal mining. The Goa government's decision to renew the mining leases comes at a time when the economics of iron ore mining have changed and environmental concerns have gained more prominence. Pamela D'Mello (dmello.pamela@gmail.com) is a Goa-based journalist. The state government...
More »Amendments to anti-graft law soft on private sector, fall short of UN convention -Pradeep Thakur
-The Times of India NEW DELHI: The NDA government, which came riding on a huge anti-corruption wave wiping out Congress last year, has dropped crucial amendments to the Prevention of Corruption Act that would have ensured India ratifying the UN Convention Against Corruption (UNCAC). Sources said the government has not considered incorporating Article 12 and 16 of the UNCAC in the proposed amendments to the Prevention of Corruption (PC) Act likely to...
More »Activists decry budget cuts for MGNREGA
-IANS Civil society activists as well as economists Monday decried the "budget cuts" being made by the government for the rural employment guarantee act. The government seems to have decided to ignore its legal responsibility and is using budget cuts to rapidly dilute and undermine the rural employment act, the activists said at a press conference here. Economist Jayati Ghosh said that MGNREGA funding has not been keeping to its demand based requirements...
More »Social activists caution Government not to ignore its legal responsibility & use budget cuts to dilute the MGNREGA
-Press Release of People's Action for Employment Guarantee New Delhi: Monday marks the 9th anniversary of the National Rural Employment Guarantee Act. The Act is unique to India and is known across the world as not only one of the most innovative social security measures but also an entitlement guaranteed by law passed unanimously by both houses of parliament. Since its inception, 1 in 3 households in rural India have worked...
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