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Against the grain -Harish Damodaran

-The Indian Express By officially committing to inflation targeting through the signing of a monetary policy agreement between the finance ministry and the RBI, India has joined 28 other countries in explicitly fixing goals for annual increases in the consumer price index (CPI) and pinning responsibility on the central bank for achieving them. Interestingly, among the now 29 countries, India has the lowest per capita income. While there are as many as...

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Unseasonal rains damage crops estimated to be worth Rs 10,000 crore -Jitendra

-Down to Earth Crop loss could be to the extent of up to 20 per cent of total production in northern and central states The unusual heavy rains starting Sunday caused heavy damage to Rabi crops in north India, particularly in Bundelkhand region of Uttar Pradesh and Madhya Pradesh, Vidarbha region of Maharastra, Saurashtra region of Gujarat and Punjab and Haryana. The unusual rains started around midnight on the intervening night of Saturday...

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Economic Survey gaffe stuns Sangh -Ananthakrishnan G

-The Telegraph Thiruvananthapuram: The NDA government's economic survey has referred to a stalled airport project in Kerala as a live one, shocking the local Sangh parivar that sees its success in blocking the plan as a feather in its cap. The Sangh's efforts had led to the National Green Tribunal quashing the previous UPA government's environmental clearance to the private airport project at Aranmula, a Unesco Global Heritage Village in Pathanamthitta district,...

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Pact binds RBI to inflation target -Puja Mehra

-The Hindu Will try to bring figure down to 6% by Jan. 2016 The Centre and the Reserve Bank of India signed an agreement last month under which the central bank will prioritise controlling price rise above the other objectives of the monetary policy - interest rates and the foreign exchange rate. The agreement formalised a policy the Reserve Bank had been following since January 2014, which is a significant development in monetary...

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Centre's new fund distribution plan dents flagship health, AIDS programmes

-Reuters NEW DELHI: India's main public health programmes, aimed at millions of rural poor, have been in disarray for months because the government changed the way that over $1.3 billion of central funds were distributed, according to data and letters seen by Reuters. In a bid last year to give states more power, the Union health ministry started sending funds for public health programmes to state treasuries, instead of direct transfers to...

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