-PTI NEW DELHI: The Unique Identification (UID) project has incurred an expenditure of Rs 3,062 crore as of July end as against a total cost of Rs 12,398 crore sanctioned by the government, Parliament was informed today. "Against a total cost of Rs 12,398 crore sanctioned by the government for the UID project, an expenditure of Rs 3,062 crore has been incurred as on July 31, 2013," Minister of State for Planning...
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Amid slugfest with BJP, PM hints at hiking fuel prices, curbing gold imports
-The Times of India NEW DELHI: The Prime Minister on Friday called for a political consensus on "more difficult reforms", indicating that the government was considering a cut in fuel subsidy, which would mean higher petrol and diesel prices, and bringing in measures to curb gold imports. Making a statement in the Lok Sabha on the current economic situation, Manmohan Singh admitted that the current account deficit had gone up sharply and...
More »Don’t blame the Food Bill
-The Hindu The currencies of India, Indonesia, Brazil, South Africa and Turkey have fallen quite dramatically against the dollar in the past few months. Whatever their domestic weaknesses, the reasons for this unprecedented decline - ranging between 13 to 21 per cent - are primarily global. In the past 48 hours, as tension mounts in West Asia, an already unprecedented situation has become even more difficult. On Wednesday, the rupee, as...
More »CAG slams govt on capital spending, rural job schemes
-The Financial Express Amid the government's efforts to curb fiscal deficit, the Comptroller and Auditor General (CAG) on Tuesday criticised the Centre for cutting down on capital spending, over-stating spending on centrally sponsored schemes and doling out some subsidies without obtaining Parliament approval. UPA's flagship scheme Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) also came under the scanner with the CAG questioning whether the entire amount booked for the job scheme...
More »Indian economy destroyed by mindless consumption -Bharat Jhunjhunwala
-The Hindustan Times In his Independence Day address, Prime Minister Manmohan Singh said the rupee is down because of the global economic crisis. A look at the events of the last decade reveals otherwise. When the global economy was doing well between 2002 and 2008, the rupee was stable at about Rs. 45 to a dollar. When the global crisis erupted in 2008 and continued until 2012, the rupee held stable...
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