-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...

-The Times of India NAGPUR: The state cabinet has given a go ahead for distribution of over 7540 solar Powered agricultural pumps in the state. It will be on a pilot basis under a Central scheme. State cabinet on Tuesday decided to allocate Rs 22.25 crore for the project estimated to cost Rs 445 crore. The Union government has decided to give a big push to solar energy and fixed a target...

-The Hindu The broad contours of a cooperative federal polity where the Centre and States engage as equal partners in development is now emerging after the government on Tuesday accepted the recommendations of the Fourteenth Finance Commission. The FFC, headed by former RBI Governor Y.V. Reddy, has broken new ground by recommending a move away from scheme and grants-based support to States to a greater devolution of funds from the Centre's...

Quite opposite to the top-down model of budgeting, the newly elected Aam Aadmi Party-led Government in Delhi has decided to go for a 'citizen-centric' budget planning at 'mohalla'-level for the fiscal year 2015-16. Drawing lessons from the success stories of participatory budgeting conducted at municipal-level in cities like Porto Alegre (Brazil), the AAP-led Delhi Government has decided to launch this form of decentralized budgeting on a pilot basis in a...

-The Indian Express   Three weeks before Greenpeace activist Priya Pillai was stopped from travelling to London where she was to speak on the alleged violation of forest rights of tribals in the Mahan coal block area of Madhya Pradesh, the Ministry of Environment and Forests asked the Ministry of Coal not to auction the block as it is "located in inviolate forest area". Pillai was stopped at Delhi airport on January 11...