The Empowered Group of Ministers (EGOM) on food will meet tomorrow to discuss ways of implementing the Supreme Court order to distribute foodgrain ''free'' to the poor instead of letting it rot. "The EGOM on food is meeting tomorrow," Finance Minister Pranab Mukherjee told reporters on the sidelines of an insurance summit organised by Assocham in Mumbai. The EGOM will discuss various issues related to foodgrain stock including the Supreme Court''s...

Insurance regulator IRDA has imposed a penalty of Rs 5 lakh each on two life insurers, state-run Life Insurance Corporation (LIC) and HDFC Life Insurance, for failing to meet rural and social sector obligation in 2008-09, Parliament was informed. The Insurance Regulatory and Development Authority (IRDA) has imposed a fine on LIC and HDFC Standard Life Insurance for non-compliance under the rural sector target during 2008-09, Finance Minister Pranab Mukherjee...

The goal of food for all can be achieved only through greater and integrated attention to production, procurement, preservation and public distribution. The President, in her address to Parliament on June 4, 2009, announced: “My Government proposes to enact a new law — the National Food Security Act — that will provide a statutory basis for a framework which assures food security for all. Every family below the poverty line in...

A pilot survey will be launched next month to assess the number of the poor in the country on a new set of parameters ahead of the scheduled BPL census in April 2011. The government has decided to launch the pilot project in 260 villages across the country to test the parameters suggested by a former Planning Commission member amid a debate on the best way of doing such counts. The project,...

The revised estimates of national income by the Central Statistical Organisation for 2009-10 present a generally positive picture of the economy. During the year, the economy grew by 7.4 per cent, marginally higher than the 7.2 per cent projected in February's advance estimates. A better-than-expected 8.6 per cent growth during the fourth quarter is the main reason. Industry has been a star performer. The strong performance of the crucial segments...