Massive backlog in submission of Detailed Contingent Bills 1,021 cases of misappropriation, defalcation, theft amounting to Rs. 407.97 crore as of March 2010 Large number of unfurnished utilisation certificates for grants to the tune of Rs.4,527.77 crore The pendency of Detailed Contingent (DC) Bills, once a subject of a free-for-all in the Bihar Assembly last year, has popped up again in the Comptroller and Auditor-General's report tabled in the Assembly on Wednesday. The audit...
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New draft of MFI Bill to give more teeth to RBI by Dinesh Unnikrishnan
The earlier draft covered only non-NBFC MFIs incorporated as trusts and non-governmental organizations that constitute a very small part of the total industry The proposed microfinance Bill for governing India’s Rs. 22,000 crore microlending industry is set to give more teeth to the Reserve Bank of India (RBI) to regulate larger microfinance institutions (MFIs). This will be done by removing such entities from the purview of laws enacted by state governments...
More »Long way to go by PS Krishnan
Budget 2011-12 and the Scheduled Castes and Scheduled Tribes. THREE decades ago, in the early years of the Special Component Plan (SCP) for Scheduled Castes – very recently renamed inappropriately as Scheduled Castes Sub-Plan (SCSP) – Indira Gandhi on her return as Prime Minister wrote two historical D.O. letters dated March 12, 1980, one to Central Ministers and the other to State Chief Ministers, regarding the SCP in the Central...
More »In farmer's name by R Ramakumar
The policy is to promote specific high-value segments within agriculture, where corporate houses have major profit interests. A COMMON compliment that Pranab Mukherjee's Union Budget for 2011-12 received from the media was its proclaimed “friendliness” to agriculture and rural areas. It was not just the media; members of India Inc. welcomed the Budget as “focussed” on agriculture. However, a close look at the Budget estimates reveals a different picture. Public...
More »A new State-level Advisory Council for Rajasthan by Mohammed Iqbal
Ashok Gehlot's Budget speech lays emphasis on social welfare measures Chief Minister Ashok Gehlot's Budget speech in the Rajasthan Assembly here on Wednesday laid emphasis on “positive results” of the State Government's work during the previous year for development of various sectors, and made a number of announcements for the welfare of different sections of society. In a significant declaration, Mr. Gehlot said a State-level Advisory Council would be constituted shortly in...
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