-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...
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After foodgrain, UPA plans to subsidise edible oil and pulses -Madhvi Sally
-The Economic Times NEW DELHI: After the ambitious food security law, the UPA government is preparing another populist scheme to expand the supply of subsidised edible oil and pulses through the countrywide network of ration shops in the next two to three months. "It will be the next major thing. We are working at the earliest. We propose that state governments purchase pulses and edible oil either through imports or locally. We...
More »The employment story reflected in NSS data: Jobless growth reversed-Santosh Mehrotra
-The Economic Times The latest round of NSS - the 68th employment-unemployment round - brings good news for jobs. The data for 2011-12 shows that total employment in the economy has risen from 460.2 million in 2009-10 to 472.9 million in just two years. This is good news compared to the previous five-year period that saw an increase of only 2.5 million jobs over 2004-05 and 2009-10. Another piece of good news...
More »Food ordinance has controversial force majeure clause-Sanjeeb Mukherjee
-The Business Standard Clause empowers both Central and state govts from their obligation to provide subsidised food in the event of war, flood, drought, fire, cyclone or earthquake The government included much-debated 'force majeure' clause in the Food Security Ordinance, despite opposition from civil socieity and a Parliamentary standing committee. However, the clause can now only be invoked if the Central government in consultation with the Planning Commission decides as to whether such...
More »Push for study quotas in private institutes -Basant Kumar Mohanty
-The Telegraph New Delhi: Two panels examining the education standards of SC/STs and OBCs have urged the Centre to enact a law to implement admission quotas for them at private institutions of study. The panels, set up by a national monitoring committee for education of SC/STs and persons with disabilities, have suggested that private higher study institutions must implement quotas of 15 per cent for SCs, 7.5 per cent for STs and...
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