-PTI Faced with subdued revenue mop-up and rising fiscal deficit, Finance Minister Pranab Mukherjee today said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12. "As Finance Minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," said Mukherjee, who is engaged in the process of firming the Budget for 2012-13...
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Elusive jobs by TK Rajalakshmi
It is getting harder for jobseekers to return to gainful employment and for new entrants to find adequate jobs, says the ILO. THERE is little in the International Labour Organisation's (ILO) annual projection of job growth to cheer about. The year 2012 has been described as a year of stark reality. A third of the global workforce is currently unemployed or poor; that is, 200 million members of the 3.3-billion-strong global...
More »Budget 2012: Finmin seeks to blur plan-non-plan distinction by Devika Banerji & Deepshikha Sikarwar
The Planning Commission and the finance ministry are at odds over the accounting of plan and non-plan schemes in the budget. While the finance ministry is pushing for inclusion of more than 10 non-plan schemes in the planned budget for the next financial year, the Planning Commission is resisting the move as it would eat into the share of existing schemes. The commission's reluctance follows an expected cut or flat allocation...
More »Farmers' kin upset over West Bengal's refusal to acknowledge suicides by Ananya Dutta
“Believe me, I am not making any of this up,” insists Asim Saha brother of Amiya Saha, who killed himself after consuming a bottle of pesticide a month ago after failing to find buyers for the paddy he had harvested, when he speaks of the events that occurred on the fateful night and the paddy that remains unsold at their home in Rajpur village in the West Bengal's Bardhaman district. The...
More »Time to end West's farm subsidy as a condition for funding European bailouts: Swaminathan A Aiyar
-The Economic Times The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone. But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...
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