The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...

The targeted four per cent growth in the agriculture sector could be achieved if agricultural schemes such as System of Rice Intensification and Dryland Farming, initiated in Tamil Nadu, are replicated across India, the Planning Commission has said. "India, producing around 210-220 million tonnes of Foodgrains annually, has to increase the productivity from two tonnes per hectare against the world average of four tonnes,'' the Member of the Planning Commission, Dr...

India's agriculture output is expected to rise by 3.8% in 2011-12 on assumption of favourable weather conditions, Centre for Monitoring Indian Economy (CMIE) said in its monthly review here. "We project that agricultural output will grow for the second consecutive year in 2011-12. It is expected to rise by 3.8%, over an estimated 6.5% growth in 2010-11," CMIE said. Our projection is based on the assumption that weather conditions will be favourable...

Another name for Chhattisgarh is ' Dhan ka katora' or 'Rice Bowl'. There is an amazing variety of rice being grown across the region in Central India, largely dominated by tribal communities. This is a land blessed by the bounty of nature and has a combination of soil, water and temperature, which lends itself well to the cultivation of this all-important Foodgrain. Yet all this amounts to very little today and...

The Food Corporation of India (FCI) is estimated to have incurred a financial loss of Rs 484.76 crore in 2010-11 due to damage to Foodgrains and storage and transit loss, Food and Public Distribution minister K V Thomas said today. FCI, a nodal agency for procurement and distribution of Foodgrains, is estimated to have lost Rs 484.76 crore in 2010-11, as against Rs 437.87 crore in the previous year, the minister...