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India

Central assisstance to States and UTs may be stopped if corruption continues

Special Correspondent - 2011-03-17 10:46
New Delhi : The Ministry of Rural Development has issued instructions to States and Union territories regarding the stoppage of Central Assistance under Section 27 of Mahatma Gandhi NREGA. The directions have been issued in the wake of the monitoring and review of MGNREGA in the States and the field level visits of the officials from the Ministry, Members of Central Employment Guarantee Council (CGEC), National Level Monitors (NLMs), audit teams and media reports which have often revealed anomalies in the implementation.

SPMCIL Sets Sales Target of Rs. 2,800 Crore for 2011-12

Special Correspondent - 2011-03-17 10:33
New Delhi: Security Printing and Minting Corporation of India Limited (SPMCIL), has signed a Memorandum of Understanding (MoU) with the Department of Economic Affairs (DEA), Ministry of Finance, setting an ambitious sales target of Rs.2800 crores for itself for the fiscal 2011-12.
India

Manufacturing to Register 9% Growth

Special Correspondent - 2011-03-17 10:29
New Delhi: Shri Anand Sharma while delivering the key note address at 1st ‘Green Manufacturing Summit’ on product, process and technology, here today stated that: “The global economic landscape has witnessed a dramatic transformation in the last two decades, which has had a profound influence on the nature and spatial spread of manufacturing. China and India, home to nearly 40% of world’s population and over 800 million strong middle class is changing the demand side of the equation. Enhanced mobility of resources and a globalization of financial markets have had important implications for manufacturing”.
India

RBI SIGNALS CONTINUED ANTI-INFLATIONARY STANCE

KEY POLICY RATES REVISED UP BY QUARTER PER CENT
S. Sethuraman - 2011-03-17 09:54
The battle against inflation is being kept up by the Reserve Bank of India, faced with continuing demand pressures and unrelieved supply side deficiencies, with a further revision of its key policy rates, the repo and reverse repo, by 25 basis points raising them to 6.75 and 5.75 per cent respectively with immediate effect. The Bank Rate and Cash Reserve Ratio have been left untouched at six per cent each.
India

JAGAN’S FUTURE IS STILL UNCERTAIN

MUCH DEPENDS ON TELENGANA AGITATION
Kalyani Shankar - 2011-03-17 09:51
Jagan Mohan Reddy is not the first in Andhra Pradesh to float his own outfit. There have been many others who had done it before. Some like N.T. Rama Rao had succeeded and captured power in nine months while others have not. Some like Telengana Rashtra Samithi chief K. Chandra Shekhar Rao had partially succeed by becoming minister at the centre as a coalition partner while others like Praja Rajyam chief Chiranjeevi has merely won some Assembly seats.

JAPANESE NUCLEAR REACTOR CRISIS ‘VERY SERIOUS,’ SAYS UN ATOMIC CHIEF ON EVE OF VISIT

Special Correspondent - 2011-03-16 23:47
New York: Repeatedly calling the nuclear reactor crisis in Japan “very serious,” the head of the United Nations agency that coordinates global nuclear safety announced today that he will make a flying visit to the country to see what further help he can offer.

ON EVE OF HAITI’S POLLS, UN VOICES CONCERN AT ELECTORAL VIOLENCE

Special Correspondent - 2011-03-16 23:43
New York: Voicing deep concern at acts of violence marring the campaign for Sunday’s elections in Haiti, some of them fatal, the United Nations today called on all candidates, especially those in the presidential run-off, to avoid threats, intimidation and harassment.

UK recovery slow, but fiscal consolidation must continue

Special Correspondent - 2011-03-16 23:38
Economic growth will be subdued this year and next in the United Kingdom, but the government must continue its difficult fiscal consolidation and structural reform programmes to return the economy to a sustainable path, according to the OECD’s latest UK Economic Survey.

IMF endorses ppropriate sequencing of reforms

Special Correspondent - 2011-03-16 23:30
Executive Directors of the International Monetary Fund (IMF) have welcomed the staff’s analysis of issues in revenue mobilization in developing countries, which draws on the Fund’s expertise in providing advice and technical assistance in this area to its members. They underscored the important role of the Fund in continuing to support developing countries’ efforts to mobilize domestic revenue to meet their substantial spending needs, and expressed strong support for Fund technical assistance in this area. Directors broadly agreed with the main principles and recommendations in the paper, stressing that their application should pay due regard to member countries’ specific circumstances and the appropriate sequencing of reforms.

CONTINUED SUPPORT VITAL AS LIBERIA PREPARES FOR POLLS, HANDLES REFUGEE INFLUX

Special Correspondent - 2011-03-16 23:26
New York: Liberia has made important progress over the past eight years in emerging from conflict but will need continued international attention, especially given the upcoming general elections and the recent influx of refugees from Côte d’Ivoire, a senior United Nations official said today.