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The Executive Board of the International Monetary Fund (IMF) today approved a disbursement of an amount equivalent to SDR 2.075 million (about US$3.26 million) under the Rapid Credit Facility (RCF) for St. Vincent and the Grenadines to help the country manage the economic impact of Hurricane Tomas. The Board’s approval enables the immediate disbursement of the full amount.

New York: Greek Cypriot and Turkish Cypriot leaders today held the first of two top-level meetings scheduled for this week, under United Nations sponsorship, as they intensified their efforts to reunify the Mediterranean island which has been split for almost 50 years.

New Delhi: Shri Jairam Ramesh, Minister of State for Environment and Forests said it is highly regrettable and most unfortunate that even after 14 months of Copenhagen Accord, under the so called Fast Finance Track window, there is hardly any significant disbursement.

New Delhi: The BASIC Ministers exchanged views on the outcome of the Cancun Conference and the approach to be taken to the future work in the run-up to Durban. The Ministers appreciated the role played by Mexico as President of COP-16 in achieving the outcome and noted several positive elements of the outcome. While agreeing that the Cancun Agreements were a step forward in the global action on climate change and provided the space to address some of the outstanding issues, the Ministers stressed that the Cancun Agreements were not a substitute for the Bali Road Map.

New Delhi: Announcing the General Budget 2011-12 here today, Shri Pranab Mukherjee, Finance Minister, proposed an allocation of Rs.2,14,000 crore for infrastructure sector, which is 23.3% higher than current year. This amounts to 48.5% of the Gross Budgetary support to plan expenditure.

New Delhi: The Union Minister of Finance Shri Pranab Mukherjee, while presenting the Union Budget for 2011-12, has announced that Bharat Nirman package consisting of 6 flagship programme has been allocated Rs.58,000 crore, which represents an increase of Rs.10,000 crore from the current year. Bharat Nirman package includes Pradhan Mantri Gram Sadak Yojana (PMGSY), Accelerated Irrigation Benefit Programme, Rajiv Gandhi Grameen Vidyutikaran Yojana, Indira Awas Yojana, National Rural Drinking Water Programme and Rural telephony.

New Delhi: The Finance Minister, Shri Pranab Mukherjee while presenting the Union Budget for 2011-12 announced in the Lok Sabha today to further strengthen the on-going Rashtriya Krishi Vikas Yojana (RKVY) and to focus on the removal of production and distribution bottlenecks for fruit, vegetables and poultry products.

New Delhi: The Union Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget for 2011-12, has proposed an allocation of Rs.52,057 crore for education, which is an increase of 24 per cent over the current year.

New Delhi: Finance Minister, Shri Pranab Mukherjee has proposed to raise the target of credit flow to the farmers from Rs. 3,75,000 crore this year to Rs.4,75,000 crore in 2011-12. Banks have been asked to step up direct lending for agriculture and credit to small and marginal farmers.

New Delhi: The Union Finance Minister, Shri Pranab Mukherjee has proposed to provide an amount of Rs. 300 crore to bring 60,000 hectares under palm oil plantations, by integrating the farmers with the markets.