A committee headed by Planning Commission member Arun Maira, the former head of The Boston Consulting Group in India, wants all acquisitions of Indian pharmaceutical companies by foreigners to be scanned by the Competition Commission of India or CCI. The report will now be sent to Prime Minister Manmohan Singh and Planning Commission Deputy Chairman Montek Singh Ahluwalia. Prime Minister Singh is expected to take a final view on the...
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States holding up plan to recapitalize regional rural banks by Remya Nair & Anup Roy
The Union government’s plan to recapitalize 40 of the 82 regional rural banks (RRBs) is at risk as some of the state governments are either delaying or refusing to pay their share of money. Due to this, the government has only been able to recapitalize around 12 RRBs, with the stakeholders collectively infusing Rs. 300 crore. The cabinet had approved the Rs. 2,200 crore recapitalization plan of 40 RRBs in February,...
More »Education subsidy plan misses target by Prashant K Nanda & Remya Nair
An ambitious scheme to make higher-education loans more attractive to poor students has failed to meet its target because of inadequate marketing and lack of coordination among various agencies. The scheme, launched in 2010 by the human resource development (HRD) ministry, gives full interest subsidy (a student will not have to pay the interest for the loan he or she avails) to students from families earning less than Rs.4.5 lakh a...
More »Pay hike proposed for NREGA workers by Jaideep Deogharia
The Jharkhand state MGNREGA council has increased the honorarium to nearly 6,000 contract employees working for implementation of the central scheme, putting an additional burden of over Rs 1 crore on the state exchequer. However, the government said the extra load would be borne by the central share of funds. The proposal of the rural development department was approved by the state council in its third meeting here on Tuesday. The...
More »Planning Commission wants Nandan Nilekani-led UIDAI to be monitored
-The Economic Times The Planning Commission has raised questions about the administrative structure of the Nandan Nilekani-led Unique Identity Authority of India (UIDAI) and called for the appointment of an independent financial advisor to monitor its Finances and transactions, days after the Finance ministry rejected the authority's Rs 15,000 crore funding proposal. "The UIDAI's present system represents a major departure from government procedures and removes all inbuilt checks and balances. We...
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