-Live Mint BJP-ruled states to get more funds, while most Congress-ruled states will lose out if report's funding formula is accepted New Delhi: Odisha, Bihar, Madhya Pradesh and Chhattisgarh are the least developed (or the most backward) in that order, according to a government committee whose recommendations, if accepted, will mean a larger share of central funds for these states. Goa, Kerala and Tamil Nadu are India's most developed states, according...
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Ripple effect of rising fuel prices: Get used to high food prices, RBI can do little to counter them -Avinash Celestine
-The Economic Times Like his predecessor, RBI governor Raghuram Rajan too remains worried about inflation. And despite repeated attempts, the RBI has had mixed success in taming prices. Reserve Bank of India governor Raghuram Rajan has clearly decided to play spoilsport to the markets. By making it clear that he, like his predecessor, remains worried about inflation, he has also effectively signalled that with consumer prices at 9.5%, markets shouldn't expect those...
More »Food Security Bill on shaky turf -KP Prabhakaran Nair
-The New Indian Express In 1948 when the United Nations passed the covenant ensuring the right to food, vis-à-vis the right to proper livelihood, to which India became a signatory, it did not envisage that the whole issue would be caught up in such an imbroglio - political and economic - as one witnesses today. The original covenant in article 25 ensures the "right to work and livelihood" and right to...
More »Walmart's investment in Cedar violates FEMA, RBI rules: CBI -Rasul Bailay
-The Economic Times NEW DELHI: The Central Bureau of Investigation (CBI) has said Walmart's $100-million investment in Cedar Support Services, the holding company of Bharti Retail, in 2010, violated India's foreign exchange rules as well as Reserve Bank of India (RBI) guidelines but said as these violations did not fall within its purview, it cannot investigate the matter. "The case was analysed which reveals violations of RBI guidelines and Fema regulations," the...
More »It’s official: Indian economy slowed to a 10-year low of 5% in 2012-13
-The Times of India The Indian economy grew at its slowest pace in a decade in 2012-13, posing another fresh challenge for the UPA coalition to revive growth and boost sentiment ahead of the general elections next year. Data released by the Central Statistical Organization (CSO) on Friday showed that the economy grew 5% in 2012-13, compared to 6.2% expansion in the previous year. It was in line with the advanced...
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