-The Hindu Business Line Chennai: The Fourteenth Finance Commission has formulated its recommendations without any reference to the distinction between Plan and non-Plan outlays. This will facilitate greater attention to maintenance expenditure, and reduce incentives to boost capital works and show large-sized plans, said YV Reddy, Chairman of the Commission and former Governor of the RBI. Delivering the Raja J Chelliah Memorial Lecture at the Madras School of Economics on Monday, Reddy...
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Retail inflation increases to 5.37% in Feb
-Business Standard Upward trend continues after base year revision, mainly because of high food prices India's Consumer Price Index (CPI) -based inflation rose to 5.37 per cent in February, from 5.19 per cent the previous month, mainly because of high food prices. After a revision in base year in December, from 2010 to 2012, this was a third straight month to see an upward trend in the rate of retail inflation. The rate...
More »Pact binds RBI to inflation target -Puja Mehra
-The Hindu Will try to bring figure down to 6% by Jan. 2016 The Centre and the Reserve Bank of India signed an agreement last month under which the central bank will prioritise controlling price rise above the other objectives of the monetary policy - interest rates and the foreign exchange rate. The agreement formalised a policy the Reserve Bank had been following since January 2014, which is a significant development in monetary...
More »Empowering the States
-The Hindu The broad contours of a cooperative federal polity where the Centre and States engage as equal partners in development is now emerging after the government on Tuesday accepted the recommendations of the Fourteenth Finance Commission. The FFC, headed by former RBI governor Y.V. Reddy, has broken new ground by recommending a move away from scheme and grants-based support to States to a greater devolution of funds from the Centre's...
More »Modi government accepts Finance Commission recommendations, states to get 42% share in central taxes
-The Times of India NEW DELHI: The Modi government said on Tuesday that it has accepted the recommendation of Finance Commission to raise the share of states in central taxes to 42 per cent from current 32 per cent. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26 lakh crore in 2015-16. "The higher tax...
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