Driven by spiralling prices of essential items, inflation surged into double digits at 10.16 per cent in May, the highest in the last 19 months, adding to the woes of the common man. Soaring inflation, according to analysts, may prompt the Reserve Bank to tighten liquidity at its quarterly monetary policy review scheduled next month. The essential items which have become expensive, directly hitting the pocket of the common man, include pulses,...
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EGoM defers decision on Food Security Bill
The Empowered Group of Ministers (EGoM) on Thursday deferred a decision on the Food Security Bill — which seeks to entitle families below the poverty line to rice and wheat at Rs.3 per kg — due to the indisposition of Food and Agriculture Minister Sharad Pawar. Finance Minister Pranab Mukherjee said a decision on the Bill could not be taken due to Mr. Pawar's absence and the issue would be taken...
More »RTE bill now goes up by Rs 60,000 cr by Anubhuti Vishnoi
The Right to Education, in effect since April 1, is set to cost the Centre a staggering 2,31,000 crore over the next five years according to fresh estimates. Previous estimates drawn up by National University of Education Planning & Administration (NUEPA) — the basis of financial planning for the RTE’s provisions so far — had pegged the requirement at Rs 1,71,000 crore. In a note submitted to the Expenditure Finance...
More »Pranab to head group on caste census by Smita Gupta
Union Finance Minister Pranab Mukherjee will head the promised Group of Ministers (GoM) that will examine the modalities of enumeration of caste in Census 2011, senior government sources told TheHindu. The GoM was constituted on June 4, nine days after the Union Cabinet took a decision to do so. Its 10 other members are the representatives of all the Congress' partners in the United Progressive Alliance (UPA): Agriculture Minister Sharad Pawar, Defence...
More »Will India be the world's fastest growing economy?
The India growth story is enviable. Despite plaguing problems, India has emerged stronger and resilient to the global crisis so far. India is expected to be the world's fastest growing economy by 2018, according to Economist Intelligence Unit (EIU), the research arm of the Economist magazine. India, the second largest growing economy will overtake China as the fastest growing major economy with an average of eight per cent in the...
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