-The Business Standard Most key functions now handled by the Finance ministry and other govt departments When Prime Minister Narendra Modi recently extended a Rs 8,000-crore central support for building roads in Jammu & Kashmir, Union Cabinet's approval for the big-ticket announcement came in barely 48 hours. Unlike in the past, the proposal did not get stuck in the corridors of the Planning Commission, a Nehruvian-era body. The Commission, which occupied the centre...

-The Hindustan Times For fiscal prudence and better outcome of public expenditure, the Narendra Modi government is likely to downsize some of the social sector schemes, including the rural job guarantee programme, the biggest grosser of the central funds. Finance minister Arun Jaitley had allocated about Rs. 33,351 crore for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) in his budget this July but many believe that the huge expenditure was not...

-The Hindustan Times To kick-start stalled development projects and remove investment bottlenecks, the government is expected to make changes to the land acquisition act during the winter session that opens on November 24. Dilution of the consent clause, restricting social impact assessment to large projects and giving states the powers to define "emergency" under "urgency clause" for acquiring land are some of the major amendments -- demanded by various states -- that...

-The Indian Express Finance Minister Arun Jaitley on Wednesday said the government has learnt a valuable lesson on allotment of natural resources like coal and spectrum, but cautioned the Comptroller and Auditor General (CAG) of India against "sensationalising" its reports and creating an environment of "finger pointing". Addressing an annual conference of the CAG, Jaitley said the auditor "doesn't have to sensationalise... he doesn't have to get into the headlines." Noting that the...

-TheGoan.net As had been anticipated, on October 18, the Cabinet Committee of Economic Affairs chaired by Prime Minister Narendra Modi decided to decontrol the prices of diesel, the most widely-used petroleum product in the country. Riding on an unexpected fall in world prices of crude oil, the government was able to simultaneously announce a sharp fall in consumer prices of diesel by Rs 3.37 per litre (in Delhi). But the decision...