-The Economic Times A Committee of Secretaries (CoS) recommendation for a 10% increase in urea prices notwithstanding, the fertiliser ministry is in no mood to bite the bullet. The ministry has categorically said in a note that it opposes the recommendation and that there should be no price revision. The Cabinet has been deferring a price raise for the last six months due to the fertiliser ministry's opposition. The government has been...
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Why it's difficult to cut our diesel dependence -Atul Sethi
-The Times of India Every few days, Rajkumar Sharma, manager of a group housing society in Noida, makes the mandatory trip to the nearby petrol pump to pick up his quota of diesel. A few days back, even as he was on his 'diesel duty' as he calls it, he was making some quick back-of-the-envelope calculations. "Our average monthly consumption is around 400 litres which means a monthly expenditure of around...
More »Govt may hike annual agricultural lending target for Banks-Dheeraj Tiwari
-The Economic Times The government may increase the annual target of the banks for lending to the agriculture sector by 22% in the upcoming union budget to 7 lakh crore, in view of the revised classification of priority sector loans issued by the Reserve Bank of India. "Banks will be pushed to achieve their direct lending targets and focus on the new improved Kisan Credit Card scheme," said a finance ministry official,...
More »Black money could account for 10% of GDP: Study -Pradeep Thakur
-The Times of India A study commissioned by the government last year on quantifying black money generated in the country has estimated that the illicit wealth is likely to exceed 10% of GDP or anywhere above Rs 10 lakh crore, given the size of the economy. The 1,000-page report was submitted to the finance ministry by the National Institute of Public Finance and Policy (NIPFP) in the last week of December. The...
More »Union Ministries Roped in to Safeguard Interests of Elderly
-Outlook The Social Justice Ministry has asked some of the key Central ministries to take necessary steps to safeguard the interests of senior citizens and ensure their financial, health and personal securities. The move comes following recommendations of the ministry's first 'National Conference on Ageing' in this regard. The Social Justice and Empowerment Ministry has forwarded its recommendations to Union ministries such as Home Affairs, Finance, Health and Rural Development to take steps...
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