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ADB to Provide $10 Bn Assistance to India Over 5 Years

-Outlook Multilateral lending agency Asian Development Bank (ADB) will provide loan of USD 2 billion annually for five years till 2017 to India to create jobs, enhance investment reforms, and improve infrastructure. "The ADB and Government of India have agreed to a new country partnership strategy for 2013-2017 which supports the country's 12th Five Year Plan .... The strategy comes with a financial envelope of around USD 10 billion...," the Manila based...

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Inflation in goods used by rich higher than those by poor: PHD

-PTI Inflation during the current festive season is impacting the rich more than poor as the goods used by them have seen a higher price rise a report by a industry body said. "The impact of price rise as measured by the Wholesale Price Index (WPI) is found higher on rich class at around 9.3 per cent as compared with the poor class at around 8.4 per cent," PHD Chamber of Commerce...

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World Bank praises India's Phailin evacuation efforts

-PTI The World Bank has praised India's evacuation of nearly 10 lakh people in Odisha and Andhra Pradesh, which ensured minimal loss of human lives, before the cyclone Phailin made landfall and attributed it to its years of disaster management preparedness. "Successfully evacuating a million people is not a small task. This cannot be merely achieved by kicking the entire state machinery into top gear for three-four days following a cyclone warning,"...

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Punjab to bolster cancer relief fund with cess on basmati -Amaninder Pal Sharma

-The Times of India PATIALA: After generating much-needed revenue from sale of government properties and taxes on sale of tobacco products in the state, Punjab is now set to pump money for its cancer relief fund from a cess on the sale of basmati rice. In a notification issued recently, the Punjab government has decided that 0.25% of the total revenue generated from the purchase of basmati in the state would be...

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The global implications of India's food security law-Nikhil Inamdar

-The Business Standard Balancing duty to the poor while mitigating 'policy externalities' arising out of the food bill is India's latest challenge The government has fought all odds to get the food security bill - an entitlement programme that covers 67% of India's 1.2 billion large population under a subsidised grain regime, passed in the Parliament. But the battle now shifts to the global stage with India having to convince negotiators, particularly...

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