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Kelkar panel for scrapping all subsidy; says no action will push FY13 fiscal deficit to 6.1%

-NDTV The Kelkar committee has said subsidies pose the greatest risk to the country's fiscal situation, while suggesting that the excise and service tax rates should be cut to 8% over the next few years. The panel calls for the need to step up disinvestment drive in state-run firms for fiscal consolidation. It says diesel should be deregulated by 2014 and all subsidy on cooking gas be cut by 2015. All subsidies must be...

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Agriculture back in focus as growth estimate gets downgraded by banks like Morgan Stanley, Standard Chartered-Gayatri Nayak

-The Economic Times When the country was growing at more than 8 per cent for about a decade, services and manufacturing were the darlings of policy-makers, investors and talking heads. Agriculture, a segment that employs nearly half the hundred crore population of the country, was hardly mentioned even in passing. This year, thanks to a poor monsoon, suddenly the farmers are the centre of India's growth story, or the lack of...

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Mamata to target Cong bastions in West Bengal panchayat polls -Arindam Sarkar

-The Hindustan Times West Bengal chief minister Mamata Banerjee will lead the campaign in the Congress strongholds during the ensuing panchayat elections in early 2013. She will lead the Trinamool Congress campaign in the green belt in North Bengal, which has always voted for the Congress. Mamata has  earmarked Congress MP Adhir Chowdhury’s bastion, Murshidabad, MP Deepa Dasmunshi’s base, North Dinajpur, and the late ABA Ghani Khan Chowdhury’s home turf, Malda, now...

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After foreign investors, government balm for aam aadmi -Rajeev Deshpande

-The Times of India An SMS alert that tells the position of stocks in ration shops. A front-to-back computerization tracking food grain movement from procurement to rations shops. And a swipe card to allow BPL users to access subsidized food grain. A two-stage Rs 4,200 crore recast of India's notoriously leaky public distribution system (PDS) is likely to considered by the Cabinet on Monday along with a Rs 1.25 lakh crore expansion...

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9 states to get more funds to improve literacy rate

-PTI Bihar, Uttar Pradesh, West Bengal and six other states having literacy levels less than the national average will get enhanced Central share under the Sarva Siksha Abhiyan programme, with the Planning Commission approving a proposal to this effect. These states will be getting funds in the ratio of 75:25 as against the existing ratio of 65:35. Himachal Pradesh and Uttarakhand will also be included along with the northeastern states where funding...

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