Vinod Rai’s searing honesty in his job as the country’s CAG has the government in many a bind CAG Catch 1 2G Spectrum, 2010 The CAG audit over a six-year period from 2003 finds loopholes in the implementation of norms, leading to DoT allocating spectrum at 2001 prices. Estimated loss to exchequer: the now-household figure of Rs 1.76 lakh crore. Outcome Former telecom minister A. Raja, MP Kanimozhi, telecom and...
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Retail inflation up for both farm and rural labourers
-The Business Standard Retail price inflation for agricultural and rural labourers rose to 9.63 per cent in May, from 9.11 per cent the previous month, mainly because of a rise in the prices of food, fuel and clothing. Wholesale price inflation for May rose to 9.06 per cent from 8.66 per cent a month earlier and was one of the factors for the Reserve Bank of India to raise the repo...
More »Farm loans up in 2010-11; low enlistment of new borrowers a concern
-The Economic Times Farm credit flow has registered a quantum jump during 2010-11, accordign to figures put out by the government, although apprehensions have been expressed that there is urgent to enlist new loanees rather than give credit to time and again to the same borrowers. Credit institutions disbursed Rs. 4,26,531 crore during the year against the target of Rs.3,75,000 crore, an official statement said here. Agency-wise, Commercial Banks with...
More »ADB: Food prices may push millions of Asians into poverty
Poor families may find it tough to pay for medical care, children's education “Recent gains in poverty reduction made in Asia will be undermined” Resurgent global food prices, which averaged 10 per cent in many economies and posted record increases in the first two months of 2011, may push nearly 30 million Indians and 64 million people in the Asian region into extreme poverty, the Asian Development Bank (ADB) said on Tuesday. In...
More »Workers may also get skill development under NREGS by Ravish Tiwari
With manufacturing sector growth in the Eleventh Plan period estimated at 8 per cent against 11-12 per cent required to create about 2 million additional jobs in the country, the Prime Minister’s National Council on Skill Development (NCSD) is considering recommending to the Rural Development Ministry that the UPA’s flagship rural job guarantee scheme (NREGS) be widened to include providing “skill development” to unskilled wage seekers. The issue is likely to...
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