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Forget Inflation Targeting -Prem Shankar Jha

-The Indian Express   It has only managed to kill manufacturing and employment growth    In the 1950s, misapplied economic policies gave India one of the lowest growth rates in the world for 30 years, and left it behind East and Southeast Asia. Now another set of policies is completing its economic ruin. The architect of this is the RBI and its instrument of choice, the interest rate. Indian business has been begging for a...

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Yakub hanging: BEA slams government notice to channels

-The Times of India NEW DELHI: Information and broadcasting ministry's notice to four TV channels — Aaj Tak, ABP News, NDTV 24x7 and NDTV India— for their coverage of Yakub Memon's hanging has been slammed by media associations and eminent citizens who see this is an attempt to intimidate and muzzle the media. The channels have been accused of casting aspersions on the integrity of the President and judiciary, inciting violence and...

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Govt to spend Rs 19,000 cr more on social sector over Budget estimates -Sanjeeb Mukherjee & Indivjal Dhasmana

-Business Standard The government has sought parliamentary approval for an extra Rs 18,995 crore social sectors during 2015-16, almost half of the total extra spending asked for over the Budget Estimates (BE). In a supplementary demand for grants, tabled in Parliament last week, the government placed additional expenditure for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), National Food Security Act (NFSA), Swachh Bharat Abhiyan, drinking water scheme, Pradhan Mantri Gram...

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Funds for short-term crop loans cut, 10.5 lakh farmers to be hit -Sarbjit Dhaliwal

-The Tribune Chandigarh: The National Bank for Agriculture and Rural Development (NABARD) has imposed a cut of Rs. 3,400 crore on the allocation made to the state to advance short-term crop loans. The loans are advanced twice in a year for rabi and kharif crops. At least 10.5 lakh farmers are expected to be hit hard. These loans are advanced on half-yearly basis through agriculture cooperative societies. On an average, NABARD used to...

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Debate legitimate but can’t abolish death penalty, says Centre

-Hindustan Times The Narendra Modi government on Thursday called the debate on abolishing capital punishment “legitimate” but made it clear there was no way India could afford to take the leap now due to terrorism in India and the country’s disturbed neighbourhood. Finance minister Arun Jaitley also rejected suggestions that the government had been in a hurry to execute 1993 Mumbai serial bomb blasts convict Yakub Memon and made it clear that...

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