-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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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 »Sugar and Gram Dal Prices Register Declining Trends
-Press Information Bureau (Ministry of Consumer Affairs, Food & Public Distribution) The retail and wholesale prices of sugar across selected centers have shown declining trends during last three months across the main market centers in the country. As on February 2, 2014. The average wholesale price of sugar as on 12.2.2014 was Rs. 3168 per quintal, down from the one year back price of Rs. 3519 per quintal. Similarly, the retail...
More »India Should Address Infra Issues to Boost Growth: OECD -Chandra Shekhar
-Outlook Sydney: The OECD today said India needs to address its infrastructure shortfalls and pervasive state control in business activities, among other things, to maintain robust growth. In its 'Going for Growth' report, the Organisation for Economic Co-operation and Development (OECD) called for structural policy reforms to boost growth. "To maintain robust growth, India needs to address its infrastructure shortfalls, pervasive state control in business activities and unequal access to quality education. "It also...
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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