The Planning Commission, the country’s apex planning body, is gradually reconciling to the fact that there would be no large gains in the gross budgetary support (GBS) in budget 2010-11, as the government struggles to reduce fiscal deficit. GBS is the money the Union government allocates to various government programmes through the Union budget. “The major objective of the finance ministry is to bring down the fiscal deficit from 6.8% of...

The New Year began with very good news about the Indian economy. During the last five years, 2004 to 2009, India’s most backward states have shown remarkable growth. Bihar, which grew at 4.5 per cent a year between 2001 and 2005, showed a growth rate of 11.3 per cent between 2005 and 2009. Similarly, Odisha increased its growth performance from 4.94 to 8.74 per cent between these two periods; Jharkhand...

For 25 years, residents of Tajnagar village near Gurgaon lobbied for a railway station in their village. When their demand was not met, the villagers decided to take matters in their own hands — they pooled in Rs 21 lakh and built a railway station on their own. On Tuesday, the result of their efforts — perhaps the first railway station in the country on which the railways didn’t have...

Those willing to hand over their land for the laying of new railway tracks will be adequately compensated and a member of the families concerned provided employment, Mamata Banerjee, Railway Minister announced on Monday. “The railways will not acquire land forcibly and will negotiate with those willing to hand over their land. We will provide them adequate compensation as well as a job to one member of their family. This is...

Welcoming the proposal by the railways for setting up a coach manufacturing unit on the land that was earlier acquired by the State government for Tata Motors’s small car project which was subsequently relocated from Singur, the State’s Industries Minister, Nirupam Sen told the West Bengal Assembly here on Wednesday that it was one case with a hope of achieving consensus in the State on setting up industry. According to...