-The Hindu Business Line A mint-fresh working paper by the Reserve Bank of India once again trains the spotlight on a problem that, for five decades, every policy-maker has planned to snuff out, failed to, and then wished it would go away if ignored. But financial exclusion simply hasn't, and we now have the central bank applying its forensic skills to an examination of its magnitude. The title of Working Paper Series...
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Interest rates may fall as inflation slows to 3-year low
-The Times of India The inflation rate slowed to a more than three-year low of 5.96% in March on the back of softening vegetable, fruits and milk prices, brightening the prospect of an interest rate cut by RBI while bringing relief for the politically beleaguered government. Lower interest rates would provide relief to thousands of borrowers reeling under the burden of high equated monthly installments ( EMIs) on their home loans. Data released...
More »CAG rapped Bihar government for lack of plan on utilisation of funds
-PTI PATNA: CAG has ticked off Nitish Kumar government for lacking objective planning for utilisation of funds drawn on Abstract Contingency(AC) bills. The Bihar government had withdrawn Rs 16,033.01 crore on AC bills between 2009-12 of which the plan head drawals accounted for Rs 12,332.64 crore which indicated that object level planning was absent as items of expenditure were known while drawing the amount, CAG said in its report on state finances...
More »Sibal takes on judges, says let the court allocate spectrum, explain its orders -Maneesh Chhibber
-The Indian Express On a day when the UPA government’s renewed effort to attract bids from telecom companies for the ensuing auction of 1,800 Mhz and 900 Mhz spectrum drew a blank, Union Minister for Communications and Information Technology Kapil Sibal said that “if the court were to take upon itself the responsibility of allocating spectrum in the public interest, in whichever manner it deems fit, it may serve us better”. With...
More »Cash transfers to tame food price spiral-Ashok Gulati and Shweta Saini
-The Economic Times Food inflation in India, as measured by food articles price index, has averaged 11.3% for the period FY 2008-09 to December 2012, with a maximum of 15.6% in 2010-11 and minimum of 7.3% in 2011-12. In December 2012, wheat prices stood 23% higher than in December 2011, and rice prices 17% higher in the same period. Although this spurt in wheat and rice prices in the face of...
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