-The Hindu Union Finance Minister P Chidambaram's estimate for India's 2014-15 food subsidy bill of Rs 1,15,000 crore in the interim budget is more than twice of India's Poverty Gap, or the cost of pushing all households above the poverty line if cash transfers were used instead. The Poverty Gap for India, as per the latest NSSO Consumption Expenditure Survey data available (for the year 2011-12) is Rs. 55,744 crore. A...
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India witnessing NGO boom, there is 1 for every 600 people -Dhananjay Mahapatra
-The Times of India NEW DELHI: For a country which till recently had a weak civil society movement, India is now witnessing a boom in the NGO sector. With a population of 1.2 billion, the country could well be the land of opportunities for non-governmental organizations (NGOs) with the Central Bureau of Investigation conservatively estimating 20 lakh of them already operating in states and union territories. The mind-boggling figures boil down to...
More »Big car error
-The Business Standard Interim Budget's partiality to sports utility vehicles The interim Budget's decision to cut the excise duty on sports utility vehicles, or SUVs, from 30 per cent to 24 per cent will certainly benefit car makers (they have already reduced their price tags), but it raises some pertinent questions. Last year, while presenting the Budget for 2013-14, Finance Minister P Chidambaram had raised the duty on SUVs from 27 per...
More »National Food Security Act a landmark legislation, says IMF
-PTI WASHINGTON: The International Monetary Fund today described India's National Food Security Act as a landmark legislation which is an important effort to ensure that a majority of the population has access to adequate quantities of food at affordable prices. "The legislation is a landmark, representing the largest food security programme in the world, involving the distribution of subsidised grain to two-thirds of India's population of 1.2 billion," the IMF said in...
More »Ruckus in Rajya Sabha over special aid package
-PTI Opposition parties on Friday disrupted Rajya Sabha demanding a special economic package for seven most backward states including Bihar, Odisha and Uttar Pradesh, leading to an adjournment of the House till noon. Raising the issue, Kiranmay Nanda (SP) said the Central government had failed to provide financial package to the seven most backward states identified in the Raghuram Rajan report. The Rajan panel had in September 2013 recommended a new index of...
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