A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...
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Activists threaten to intensify stir if made snana is not banned
-The Hindu They will go to temples where it is practised including Kukke Subrahmanya Speakers at a seminar on made snana here on Sunday demanded that the Government abolish the practice across the State, failing which protests against the ritual would be “intensified”. The Dalit Sangharsh Samiti (Ambedkarvada), the Democratic Youth Federation of India, and the Sahamatha Vedike, which organised a seminar, resolved to intensify their protest by going to all temples where...
More »Ministers rack up Rs 3.67cr fuel bills by Hemali Chhapia
In the winter of 2009, a few months after the Congress announced a financial austerity drive for its staff, Sonia Gandhi famously travelled by economy class. But what UPA government's ministers probably saved on air fares, they seem to have more than made up on land. Fuel bills of Union ministers, since the financial curbs were put in place, were accessed by RTI activist Chetan Kothari. Merely 31 of the 84...
More »Reasons for inflation known, but no light at the end of tunnel by Ashok Dasgupta
Planning Commission, RBI officials hold brainstorming deliberations with experts With the persistent near double-digit headline inflation, despite sustained increases in key policy rates by the Reserve Bank of India, turning out to be “a frustrating experience for policymakers,” senior officials from the Planning Commission, the Finance Ministry and the RBI met with a group of academic economic experts and representatives of the International Monetary Fund (IMF), the World Bank and the...
More »PDS not working, shift to cash transfer: World Bank tells India by KR Sudhaman
India’s public distribution system has limited benefits due to huge leakage and wastage, World Bank said on Tuesday. It also recommended cash transfer as an alternative to provide subsidised food for the poor. “No country in the world has a well-functioning PDS system. India is no exception,” World Bank said in its report Social Protection for a changing India that was launched here Tuesday. “The public distribution system continues to absorb substantial...
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