The government plans to cut its subsidy bill to under 2% of the gross domestic product (GDP) in 2012-13, finance minister Pranab Mukherjee said in his budget speech on Friday. High crude oil prices and burgeoning fertilizer subsidies, primarily on account of imported non-urea fertilizers, have meant India’s subsidy bill has zoomed to Rs2.16 trillion, or 2.5% of the GDP. Mukherjee has set an ambitious target to reduce this to under 1.75%...

-PTI Nagaland's rural development departmenthas so far received over Rs 600 crore for implementation of flagship rural employment guarantee programme during the current year. Nearly Rs 574 crore had been received as central assistance and Rs 27.35 crore as state matching share under the rural employment scheme so far during the current year, Parliamentary Secretary for rural development Pangnyu Phom informed the house today. Stating that there were nearly 3.69 lakh job card...

-IANS   Calling for effective measures to improve the efficiency of social sector programmes, the Economic Survey for 2011-12 has suggested extending the government's ambitious rural jobs scheme to urban areas, strengthening panchayati raj institutions (PRIs) and skill improvement for enhanced employability. The survey, which was presented by Finance Minister Pranab Mukherjee in Parliament Thursday, said that programmes like Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have been instrumental in creating employment...

-IANS Finance Minister Pranab Mukherjee Friday announced a hike of over 21 per cent in the budget allocation for providing free and compulsory education to children below 14 years.  "I proposed an increase in allocation by 21.7 per cent for RTE ( Right to Education) -Sarva Shiksha Abhiyan to Rs.25,555 crore," Mukherjee said in Parliament.  The Sarva Shiksha Abhiyan is implemented in partnership with state governments and covers nearly 192 million children across...

-The Economic Times The Opposition, acting in sync with the Trinamool Congress, a component of the ruling UPA at the Centre, on Wednesday scored a victory in the Rajya Sabha when it got the government to commit itself to the passage of the Lokpal and Lokayukta Bill in the House in the "first half of the budget session itself.'' "We want to bring the bill within this part of the session,'' Parliamentary...