-Outlook Describing the government's ambitious direct cash transfer scheme as a "powerful tool", Reserve Bank Deputy Governor K C Chakrabarty has said the initiative will help reduce fiscal deficit, which in turn will also bring down inflation if implemented well. "The direct cash transfer scheme will reduce the fiscal deficit, which in turn will facilitate inflation control," Chakrabarty, the senior-most of the four deputy governors at the Mint Road, told PTI in...

-The Hindu Private companies get loansat 6.5% with additional cash refunds; for farmers it is 7% The National Bank for Agriculture and Rural Development (NABARD), which is dedicated to promoting rural development by providing soft loans to State governments for social sector projects, has given hundreds of crores as loans to corporates on concessional terms. In the Union Budget of 2011-12, Rs. 18,000 crore was allocated by the Centre to NABARD’s Rural Infrastructure...

-Tehelka Here are the gaping holes in the argument for FDI in retail. No smooth talk can pave over it TOUTED AS a cure-all for India’s economic ills, Foreign Direct Investment (FDI) in multi-brand retail is at best an anodyne, and at worst, toxic. It is an attempt to lift markets by fabricating sentiment; signalling an economic turnaround without any concrete steps being taken to trim the fiscal deficit or boost manufacturing. All...

-The Hindu The direct cash transfer scheme launched a year ago in Kotkasim for providing kerosene subsidies has pushed legitimate beneficiaries out of the system The nondescript town of Kotkasim in the Alwar district of Rajasthan had its Peepli Live moment after it was chosen for a pilot experiment with “direct cash transfers” of kerosene subsidies. According to the district administration, the scheme led to net savings of 79 per cent in...

-The Hindu Any political benefit the Congress hopes to reap in 2014 will come at the cost of reducing the effectiveness of social welfare schemes In getting its ministers to endorse the shift to cash transfers from the AICC office in New Delhi, the Congress has highlighted the political nature of the move. The party clearly expects cash transfers to play the same role for it in 2014 that the National Rural...