A panel headed by the PM's chief economic advisor C Rangarajan has recommended exporting 2 million tonnes (mt) of wheat at a subsidy of Rs 1,500 crore through government channels and another 1 mt through private traders at a subsidy of Rs 150 crore. Warning that just exports would not be enough to manage the overflowing godowns and could cause political problems, the panel has also recommended distribution of 8 mt...

-Kafila.org With a comfortable gap of time after the revelations of paid news, private treaties and the Radia tapes, the media is once again on the offensive to guard its independence. The trigger this time is a private member’s bill, the Print and Electronic Media Standards and Regulation Bill, 2012. The proposed legislation has been widely and energetically panned by the industry, with the Congress subsequently distancing itself from the Bill....

-PTI The Government on Wednesday said it has "no" plans to conduct a detailed evaluation of the Right to Information (RTI) Act. In a written reply in Lok Sabha, Minister of State for Personnel, Public Grievances and Pensions V Narayanasamy said that a study was conducted in 2008-09 to assess the key issues and constraints in implementation of the RTI Act. Based on the report, the minister said, "The Government has taken initiatives...

Export Import Bank of India has sanctioned a Libor-linked foreign Currency loan to artisans in Bihar for bulk purchases of tasar silk, their raw material. Libor is London inter-bank offer rate which is being used as a benchmark for short term rates in the international capital market. Exim Bank has given the working capital loan for three months to Ecotasar Silk Pvt Ltd, an enterprise manufacturing off-the-loom tasar silk products in...

A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...