-Outlook State-owned banks have been asked to strictly adhere to the March, 2014 time-line for converting all Kisan Credit Cards (KCCs) to ATM cards, Finance Minister P Chidambaram today said. "All KCCs will be converted to ATM cards. I have impressed upon all chairpersons of the banks that this time-line must be strictly adhered to," Chidambaram said following a meeting with the chief executives of state-run banks. State-owned lenders were asked to convert...

-The Hindustan Times Finance minister P Chidambaram’s grand plan to redefine how the Centre spends its funds through state governments is facing stiff opposition from within, pushing the Planning Commission to seek the cabinet’s views on the proposal. The Centre disburses billions of rupees to states for achieving national developmental goals, but its effective use remains an area of concern. Though the Planning Commission had suggested reforms, Chidambaram — in a...

-The Telegraph An outcry against the LPG policy at the day-long Surajkund Congress conclave today forced Veerappa Moily to assure the party of some relaxation on the cap of six subsidised cylinders. As most speakers disagreed with the cap and stressed that it could impact the party’s poll fortunes, the petroleum minister said: “We are already examining the matter. I will consult the Prime Minister and the finance minister and see how...

-The Times of India The government may raise the annual cap of six cylinders on subsidized cooking gas after the petroleum minister faced persistent demands from Congress leaders at the party conclave in Surajkund on Friday. The limit on subsidized LPG cylinders could go up to nine cylinders, and to 12 closer to elections. While Congress had in September expressed discomfiture with the decision to put a limit on subsidized cylinders, it...

-The Times of India The government is moving rapidly to enable cash transfers through the Aadhar platform with 51 districts to be covered by January 1, 2013, and half the country four months later — a bid to rollout an initiative aimed at streamlining subsidies while also earning votes. The plan is to put money directly into bank accounts of beneficiaries of government schemes like scholarships, cheap food under the Public Distribution...