-The Hindustan Times The government is drafting the framework of a “white paper” on black money that it is likely to present before Parliament in the forthcoming budget session. The white paper, however, is unlikely to disclose any names of individuals or entities, despite the opposition’s demand to make public the names of those who are found have to stashed money in banks in overseas tax havens, sources told HT. The finance...
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Agri Min pitches for crop loan at 3% in Budget
-PTI In its Budget wish-list, the Agriculture Ministry has demanded lowering of interest rate on crop loans to 3% for those farmers who pay in time, from the existing 4%. According to sources, the ministry has suggested an additional 1% interest subvention (subsidy) on short-term crop loans of up to Rs 3 lakh to farmers who pay their dues on time. Other farmers get crop loans at seven% interest rate. The 2012-13 Budget...
More »Fertiliser subsidy to hit Rs 1 lakh crore; ministry to seek more funds by Rituraj Tiwari
The fertiliser ministry may seek more funds from the finance ministry to meet its subsidy obligations as it needs more than the allocated amount to take care of the rising subsidy bill, a top official said. "We have already received 17,700 crore in addition to the budgetary allocation of around 50,000 crore. But we still need more funds, and the amount will be finalised in consultation with the finance ministry," said...
More »Belittling CAG Diminishes Parliament’s Effectiveness by BP Mathur
The Comptroller and Auditor General’s Report on the 2G Spectrum has created a great deal of controversy and his role is being questioned. The Public Accounts Committee could not finalise its report due to the splitting on the issue on party lines. The JPC currently examining the matter has taken an unprecedented step of taking evidence of a junior officer of the CAG’s set up, since retired, and quizzed the...
More »Food subsidy bill may not go up much: Thomas by Sandip Das
The 2012-13 Budget may not have to provide as big a jump in the food subsidy bill as expected earlier. This is because of a series of measures initiated by the government to cut wastage and improve efficiency, food minister KV Thomas has said. The measures that would bring down the need for funds include the Targeted Public Distribution System (TPDS) and the setting up of modern grain storage facilities, which...
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