Planning Commission, RBI officials hold brainstorming deliberations with experts With the persistent near double-digit headline inflation, despite sustained increases in key policy rates by the Reserve Bank of India, turning out to be “a frustrating experience for policymakers,” senior officials from the Planning Commission, the Finance Ministry and the RBI met with a group of academic economic experts and representatives of the International Monetary Fund (IMF), the World Bank and the...

“MGNREGS should move from relief work mode to one that blends natural resources and labour” to build productive assets The Sonia Gandhi-led National Advisory Council (NAC), which went into hibernation in the United Progressive Alliance (UPA) chairperson's absence, has been reactivated. On September 14, it despatched its recommendations on strengthening the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) to the government; it wants the scheme to move from its “relief work...

The finance ministry has put its seal of approval on a proposal to directly transfer subsidies to the bank account of a beneficiary that is linked to her Aadhaar, or unique identification (UID) number. The government has previously articulated its desire to experiment with direct transfers to make its management of subsidies more efficient and ensure benefits actually reach the targeted people. In a notification issued on Tuesday, the finance ministry extended...

-The Times of India   National Advisory Council (NAC) member Aruna Roy lashed out at the Planning Commission's new criteria for poverty line submitted to the Supreme Court on Tuesday. "This affidavit reflects the government's deep lack of empathy for the poor and a perspective completely divorced from reality," she said. Roy was reacting to the Plan panel's submission to the Supreme Court, saying if a person's spending exceeds Rs 32 a day in...

The Planning Commission’s new definition of poverty widely criticised as being unrealistic has caused disquiet in the UPA, with Congress leaders privately dubbing the benchmarks insensitive and ally NCP publicly slamming them as an “insult to the poor”. Congress leaders believe the figures, under which anyone spending more than Rs 32 a day in urban areas and Rs 26 in villages will not be considered poor and hence will not be...