The Right to Food Campaign on Monday announced its decision to launch a country-wide protest against the National Advisory Council's framework for the proposed National Food Security Bill, which, they said, fell short of people's expectation of a comprehensive food security bill that addressed nutrition and livelihood issues. “Even the budget proposals show no commitment to food security of people,” Campaign Convener Kavita Srivastava told journalists here. Failed to seize opportunity “By proposing...

The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...

Two key issues Budget-2011 is seen as having failed to address are inflation and mass hunger. Finance Minister Pranab Mukherjee announced in his budget speech that the long-promised National Food Security Bill would be moved in Parliament “during the course of this year” but failed to make any financial allocation to back up this statement. Against the backdrop of fresh warnings by experts that the outlook is grim given the...

Centre to also give 50% subsidy for new mills, technical help to cultivators. The Union agriculture ministry has identified eight states where the Budget annoucement on expanding the area under oil palm cultivation can be implemented. It has decided to provide 50 per cent subsidy for setting up palm oil extraction units. India imports about 8.2 million tonnes of edible oil in a year and 80 per cent of this is palm...

The government has enhanced credit to the agriculture sector by Rs 1 lakh crore in the Budget but the pressure to meet the target has been showing on the bottom lines. All government banks are reporting an increase in their bad debts on farms loans ranging between 80% and 2000% in the first nine months of 2010-11. State Bank of Bikaner and Jaipur reported the highest increase in non-performing assets...