-Outlook Expressing serious concern over the implementation of Rs 52,000-crore farm debt waiver scheme, government auditor CAG today said in several cases ineligible farmers were given benefit while deserving ones were left out. Comptroller and Auditor General (CAG) has also found instances of tampering of records and pulled up the Department of Financial Services (DFS) in the Finance Ministry for deficient monitoring of the multi-crore scheme. "Overall, the Performance Audit revealed that in...

-The Hindu All districts, except Chennai, declared drought-hit; work days under MGNREGS increased to 150 Chennai: Chief Minister Jayalalithaa announced in the Assembly on Friday that all districts in the State other than Chennai would be declared drought-hit and unveiled a host of relief measures that would cost about Rs. 2,143.60 crore, focussing on the crisis-ridden Cauvery delta. Ms. Jayalalithaa said the number of days of work under the Mahatma Gandhi National Rural...

-The Times of India The UPA-1's Rs 52,000 crore farm loan waiver scheme is turning out to be a big financial scandal. Out of 1 lakh farm loan waiver accounts audited in 700 bank branches across the country — involving disbursement of Rs 500 crore — about 30% of the waiver amount was allegedly found to have been siphoned off by a nexus of bank managers and microfinance institutions (MFIs). A comptroller...

-The Economic Times The government may increase the annual target of the banks for lending to the agriculture sector by 22% in the upcoming union budget to 7 lakh crore, in view of the revised classification of priority sector loans issued by the Reserve Bank of India. "Banks will be pushed to achieve their direct lending targets and focus on the new improved Kisan Credit Card scheme," said a finance ministry official,...

-PTI The government auditor CAG has found irregularities in disbursement of funds under the Rs 52,000-crore farm debt waiver scheme, 2008, as benefits have been taken by some ineligible farmers. Taking note of the the Comptroller and Auditor General (CAG) Performance Audit of the Agricultural Debt Waiver and Debt Relief Scheme (ADWDRS) 2008, RBI has asked the banks to recover money from ineligible beneficiaries. It has also advised the banks to lodge FIRs...