Pranab Mukherjee, India’s finance minister, put the rural economy at the heart of a national budget on Monday, saying ridding the farm sector of crippling supply bottlenecks would be his “focus” in the coming fiscal year.A market-neutral budget supporting agriculture, welfare schemes and the extension of banking services to more people was designed to dispel any sense that the Congress party-led government was in drift after a series of high...
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Funds for social schemes seem to be vanishing
In his general budget for 2011-12, finance minister Pranab Mukherjee has announced an increase in allocation for the Mahatama Gandhi National Rural Employment Guarantee Act (NREGA) of Rs10,000 crore to Rs58,000 crore.The finance minister has proposed an identical hike for the Bharat Nirman scheme, and also proposed to give Rs3000 core to the national agricultural development board, NABARD.Mukherjee also said the government has decided to index the wage rates notified...
More »Budget 2011: Pranab focuses on social sector
Union Finance Minister Pranab Mukherjee presented Budget 2011-12 in Parliament on Monday promising to stimulate growth and bring down inflation. Admitting that food inflation remains a matter of concern, Pranab said that the economy could have performed better. He said that the development needs to be more inclusive while announcing increased outlay on social sector schemes. "Total food inflation is down from 20.2 per cent last year to 9.3 per cent...
More »Farm, services sector push economic growth
Driven by good performance of agriculture and services sector, the Indian economy grew by 8.2 per cent in the third quarter of the current fiscal, up from 7.3 per cent in the corresponding period a year ago. According to the data released by the government on Monday, farm sector during the third quarter ending December, recorded a growth rate of 8.9 per cent, up from a decline of 1.6 per cent...
More »Increase outlay for higher and technical education by Dhiraj Mathur
The government passed the historic Right to Education Act (RTE Act) making education a fundamental right of every child.The Act makes it obligatory for the government to ensure that every child in the six to 14 years age group gets free elementary education.According to government estimates, there are nearly 220 million children in the relevant age group, of which 4.6%, or nearly 9.2 million, are out of school.Under the Act,...
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