-TheWire.in Policy makers should conduct deeper analysis on the many subtle factors that shape inflation and its effects on the Indian economy. In 1923 when Rudolf von Havenstein, the president of the German Reichsbank (later known as the Deutsche Bundesbank), recklessly initiated a money printing drive in response to the German government’s demand to spend more money, Germany was inevitably embroiled in a bout of hyperinflation and its worst crisis of the...
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CAG picks holes in coal auctions -Anupam Chakravartty
-Down to Earth The report highlights that there are inaccuracies and inconsistencies in valuation of auctioned mines In a report tabled in the monsoon session of the Parliament, the Comptroller and Auditor General (CAG) of India states that despite auctions, multiple bids by corporate groups through joint ventures or subsidiaries did not ensure that potential level of competition had been achieved in the first two tranches. The report highlights that there are...
More »Government says Rs 21,000 crore saved in LPG subsidy under DBT scheme
-The Times of India NEW DELHI: The government on Wednesday said that close to Rs 21,000 crore was saved in two years by directly transferring subsidy (DBT) to user bank accounts. The savings are largely from the elimination of fake/ghost/duplicate/inactive domestic LPG connections. Over 3.34 crore of these connections were done away with after the implementation of DBT. According to government calculations, 3.34 crore blocked consumers would have used up Rs 14,818.4...
More »CAG audit nails Centre’s claim on LPG subsidy saving -Josy Joseph and TCA Sharad Raghavan
-The Hindu The audit has also found substantial systemic problems with the Direct Benefit Transfer in LPG scheme, called Pahal by the government. The Centre claims it would end up saving almost Rs. 22,000 crore in the financial years of 2014-15 and 2015-16 since launching its two-pronged approach on cooking gas subsidy — introducing direct bank transfers of the subsidy and asking better off consumers to voluntarily give up theirs. However, a CAG...
More »Pulses and cereals are key worries in inflation -Ishan Kumar Bakshi & Indivjal Dhasmana
-Business Standard The latest bout of retail inflation was caused by vegetables, but prices of these items are not as worrisome as those of pulses The latest bout of Consumer Price Index (CPI)-based inflation was caused by vegetables, but prices of these items are not as worrisome as those of pulses, which saw a slight moderation in June. Besides, inflation in cereals has been rising modestly, but if not checked this could...
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