In a move aimed at a focussed targeting of subsidies for the country's poor, the government on Monday announced the setting up of an inter-ministerial task force under Unique Identification Authority of India (UIDAI) chairman Nandan Nilekani. It will work out a suitable mechanism to provide direct subsidies on kerosene, cooking gas (LPG) and fertilizers for the intended beneficiaries. In a statement here, the Finance Ministry said the task force was set...
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Team Nilekani to shape model for direct susbidy transfer
In a bid to check wasteful fuel and fertiliser subsidy and reach it to the intended beneficiaries , the government has set up a task force to suggest a suitable mechanism of direct transfer of subsidy to the consumers. The task force will be headed by Nandan Nilekani , Chairman, Unique Identification Authority of India ( UIDAI )) and has been asked to submit an interim report within four months....
More »Isaac hints at law to curb microfinancing
Finance Minister T.M. Thomas Isaac has said the State government may push a legislation to regulate lending by microFinance institutions. Addressing a press conference here on Sunday, he pointed out the relevance of the Andhra Pradesh MicroFinance Institutions (Regulation of Money Lending) Bill, 2010. “The entry of the Janasree Sustainable Development Mission into the microFinance sector poses a risk. Leader of the Opposition Oommen Chandy should clarify his stand on the risk...
More »MoEF clears Bedabahal power project, but there's a catch by Sujay Mehdudia
While Union Power Minister Sushil Kumar Shinde announced on Monday that the Ministry of Environment and Forests (MoEF) had given the green signal for the 4,000-MW Ultra-Mega Power Project (UMPP) at Bedabahal in Orissa, the clearance has come with a catch. The MoEF has imposed “stringent conditions'' for coal mining including scrapping another proposed power project and rejection of mining in a coal block allotted to NTPC Ltd. The UMPP had...
More »Jobless growth again?
While the recent sporadic performance of the Indian manufacturing sector has justifiably evoked both concern and comment, another well-documented facet has not received commensurate attention. Organised sector manufacturing in India turned capital intensive in the 1990s and the trend continues inexorably. Research by Business Standard indicates that India Inc added over Rs 13 trillion in fixed assets over the past decade, with over 80 per cent of this accretion since...
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