-Live Mint The big question is whether commitment made by Chidambaram-to contain fiscal deficit at 4.8% of GDP-will be met With the current account deficit in check, the spotlight is now on the second major macroeconomic problem that needs to be fixed: the fiscal deficit. The big question is whether commitment made by finance minister P. Chidambaram in the budget-to contain the fiscal deficit at 4.8% of gross domestic product (GDP)-will be...
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$15 bn rollover of subsidy costs into next budget?
-Reuters The finance minister is finding it harder and harder to meet the government's budget promises and may sweep as much as $15 billion in subsidy costs into next year's accounts to ensure he hits fiscal targets ahead of the Lok Sabha, ministry officials say. Finance minister, P Chidambaram, insists that the fiscal deficit target of 4.8% of GDP for the year to March 31, 2014, is a red line that will...
More »Punjab to bolster cancer relief fund with cess on basmati -Amaninder Pal Sharma
-The Times of India PATIALA: After generating much-needed revenue from sale of government properties and taxes on sale of tobacco products in the state, Punjab is now set to pump money for its cancer relief fund from a cess on the sale of basmati rice. In a notification issued recently, the Punjab government has decided that 0.25% of the total revenue generated from the purchase of basmati in the state would be...
More »Onion prices soar to Rs 5,300 a quintal in Lasalgaon-Tushar Pawar
-The Times of India NASHIK: The average wholesale price of onions at the country's largest market at the Lasalgaon Agriculture Produce Market Committee (APMC) in Nashik touched a new all-time high of Rs 5,300 a quintal on Monday. This pushed the retail rate to Rs 70 a kg against Rs 55 last week. The prices have skyrocketed, breaking the previous record of Rs 4,800 a quintal last Friday, largely due to the...
More »New land bill puts people first, govt’s message is clear 'India won't be China' -Zia Haq
-The Hindustan Times Investors say the new land acquisition bill approved by Parliament this week has made things more difficult. Pro-farm civil-society advocates say it hasn't gone far enough to protect farmer interests. If both sides are unhappy, an inside joke goes, it must be a pretty good legislation that has struck the right balance. The debate over land acquisition, however, is no laughing matter. In a country where half the people live...
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