-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
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Key reform moves on the back burner -Puja Mehra
-The Hindu Measures on urea, LPG, kerosene to go The Modi government is putting on hold its plans for some key economic reforms Union Finance Minister Arun Jaitley had announced in his maiden Budget last July. These include decontrol of urea prices, fewer subsidised cylinders a year and withdrawal of kerosene from the public distribution system (PDS). Fertilizer Minister Ananth Kumar told The Hindu that the administered price controls for urea would stay. "We...
More »A fuel’s errand -Santosh Mehrotra
-The Indian Express The finance minister plans to scrap the supply of subsidised kerosene through the public distribution system (PDS) and high time, too. To begin with, why has the kerosene subsidy needed reform for decades and yet reform never materialised? Kerosene obtained through the PDS, being cheaper, is used to adulterate diesel and petrol. Kerosene leakages in the PDS are estimated to be 40 per cent of total allocations. The diversion...
More »Supreme Court seeks to know govt stand on Aadhaar
-The Financial Express The Supreme Court's direction comes at a time when the Modi government appears to be have a re-think on the Aadhaar card scheme. (Reuters) The Supreme Court on Monday asked the Narendra Modi government to clear its stand on whether it intends to continue with the UPA government's plan to allow Aadhar as proof of identity for direct transfer of cash for social welfare schemes. Amid a fresh PIL challenging...
More »Plans to supply jowar, ragi under PDS: Minister
-Deccan Herald Hassan: Food and Civil Supplies Minister Dinesh Gundu Rao said the department was chalking out various plans like supplying ragi and jowar to the ration card holders, which would be finalised soon. Addressing media persons after inspecting the maize procurement centre and the godowns at the Agriculture Produce Marketing Committee yard during his visit to Hassan, on Tuesday, he said that the department had been purchasing ragi, providing support...
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