-PTI The government has pegged its outgo on food, fuel and fertiliser subsidies in the 2012-13 fiscal at over Rs1.79 lakh crore, nearly 14% lower than the revised estimates for the current fiscal. According to the Budget proposals, the government's subsidy bill on food, petroleum and fertilisers is estimated at Rs1,79,554 crore for the 2012-13 fiscal as against Rs2,08,503 crore in the revised estimates for this fiscal. Interestingly, the revised estimate for this...
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Rail Budget 2012: After a decade, all tickets to cost more
-The Times of India Railway minister Dinesh Trivedi on Wednesday did what none of his predecessors had done for almost a decade - he hiked passenger fares across the board, following up on the increase in freight charges announced immediately after the recent round of assembly elections. While biting the bullet in hiking fares, he chose to couch the increase as ranging from a mere two paise per km for second class...
More »Government to focus on raising vegetable output to contain price hike
-PTI Expressing concern over price rise in fruit and vegetables, the government today said it will focus on addressing the issue by bringing more area under horticulture as well as raising productivity levels. "We are more or less comfortable in cereal production. The growth rate in horticultural and animal products is good and better than cereals. But we see price rise in horticulture commodities. This is the area of concern," Agriculture Secretary...
More »Budget 2012: Introduce VAT on farm produce, says government report
-PTI With agriculture share in GDP halving to 15 per cent in the last two decades, a government report card today called for major reforms, from marketing to investment, and new technologies for accelerating farm growth. The report on 'State of Indian Agriculture 2011-12', tabled in the Lok Sabha said, "Achieving an 8-9 per cent rate of growth in overall gross domestic produce (GDP) may not deliver much in terms of poverty...
More »Inflation rises to 6.95%in February
-PTI Inflation rose to 6.95 per cent in February because of sharp increase in food prices, especially vegetables and protein-based items. Inflation, as measured by the Wholesale Price Index (WPI), was 6.55 per cent in January. In February, 2011, it was 9.54 per cent. According to the official data released on Wednesday, food inflation was 6.07 per cent in February against (-) 0.52 per cent in January. Pulses turned expensive by 7.91 per cent and...
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