With its granaries brimming over, the government faces a crippling dilemma: The tab for releasing foodgrain to make way for new arrivals adds up to Rs 20,000-25,000 crore, an unviable addition to the subsidy bill. The government's bind was succinctly outlined by finance minister Pranab Mukherjee when he told a meeting called by Prime Minister Manmohan Singh on Wednesday that vacating food silos will mean a hefty cost at a time...

Export Import Bank of India has sanctioned a Libor-linked foreign currency loan to artisans in Bihar for bulk purchases of tasar silk, their raw material. Libor is London inter-bank offer rate which is being used as a benchmark for short term rates in the international capital market. Exim Bank has given the working capital loan for three months to Ecotasar Silk Pvt Ltd, an enterprise manufacturing off-the-loom tasar silk products in...

Union minister for rural development Jairam Ramesh today frowned upon the state government and demanded greater reliability on the question of funds use after enduring a bumpy ride to a Dumka village, which to his surprise lacked road connectivity. Ramesh, who arrived in Dumka from Calcutta this morning, met self-help groups (SHGs) engaged in tussar silk production at Dhaka village, 30km from the district headquarters, in rebel-hit Shikaripara block. The minister appreciated...

-The United Nations A sustained rise in prices for raw natural resources and basic agricultural goods is defying long-standing patterns and appears to be hurting poor nations through rising food and fuel costs more than it is helping them through higher revenues for their commodities exports.   That was one of the findings of the Commodities and Development Report 2012, a study launched at the 13th session of the UN Conference on Trade...

-Greater Kashmir Jammu, Apr 25: The wage rate under MGNREGA would be increased from present Rs 131/day to Rs 150 to speed up its implementation at the ground level. The information, according to an official statement, was given in the 4th State Employment Grantee Council meeting held here today under the chairmanship of Minister for Rural Development, Panchayati Raj, Law Justice and Parliament Affairs, Ali Muhammad Sagar. Sagar while impressing upon the officers...