Only 400,000 jobs a year were generated during UPA-1, compared with 12 million annually during the NDA’s tenure Key economic data released by the government on Friday shows that the first stint of the Congress-led United Progressive Alliance (UPA) generated a mere 400,000 jobs a year, compared with 12 million jobs annually during the tenure of the Bharatiya Janata Party (BJP)-led coalition, the National Democratic Alliance (NDA). During the period 2004-05 to...
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50 lakh tonnes of grain to be offloaded in domestic market
-The Indian Express Reeling under the pressure of huge foodgrain stocks, well above the storage capacity across the country, the government on Thursday decided to send 50 lakh tonnes of grains to the states at much below the minimum support price (MSP), leaving a window open for export at a later date. “We will look into the issue once the Agriculture Minister is back in town,” Finance Minister Pranab Mukherjee is...
More »Finance min asked to probe assets of former CJI
-The Times of India The home ministry has asked the finance ministry to conduct a probe into the assets of former Chief Justice of India, K G Balakrishnan, in what could possibly lead to action against him for allegedly possessing wealth disproportionate to his income. Sources said the ministry has written to the revenue secretary, asking him to institute an inquiry through the Central Board of Direct Taxes. "The inquiry would be...
More »Food Act won't add to subsidy cost
-The Times of India The proposed Food Security Act may not put additional burden on the government in the current fiscal year as the government can find the resources to fund the plan from the spending outlined for 2011-12 , finance ministry officials said. However, the food subsidy bill could soar to as much as Rs 75,000 crore from the estimated Rs 60,572.98 crore for the 2011-12 fiscal. Finance ministry...
More »Government cold to CAG's quest for new powers by Siddharth Varadarajan
The United Progressive Alliance government may have shown a willingness to draft a new Lokpal Bill, but it is dragging its feet on a proposal to strengthen the public institution that has done so much to expose wrongdoings in public life: the Comptroller and Auditor-General (CAG). For the past two years, the CAG has been pushing the Finance Ministry — its nodal ministry — for crucial changes in the 1971 Audit...
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