Big developing countries such as China and India are routinely breaking international trade rules on agriculture and the U.S. government should take action to stop them, representatives of U.S. corn and rice growers said on Thursday.
P Jayaram Bhat, MD and CEO, Karnataka Bank Ltd said that the Pradhan Mantri Jan-Dhan Yojana (PMJDY) aims at encouraging savings, availing credit from banks and rooting of government subsidies and benefits to directly to the beneficiaries accounts.
The Expenditure Management Commission, headed by Bimal Jalan, has been entrusted with the task of suggesting ways to improve fiscal discipline, target subsidies more efficiently and imposition of user charges on utilities.
RBI Deputy Governor K C Chakrabarty Saturday said subsidies killed innovation and interest of people even as leaders of various industrial sectors demanded sops to nurse their companies back to health.
The subsidy would be 35 percent for weaker sections in rural areas and 25 percent for others. In urban areas, it would be 25 percent for weaker sections and 15 percent for others, he said, speaking at a seminar here.
The government on Thursday said it will reduce outgo on subsides from 2.6 percent of GDP in 2011-12 to 1.5 percent by the end of 12th Plan (2012-17) to contain the expenditure within a "pre-determined level of affordability".
Subsidies must be cut and tax mop up has to increase to fund priority areas of education, infrastructure, health and skill development in the 12th Plan, Plan Panel Deputy Chairman Montek Singh Ahluwalia said Saturday.
The Madhya Pradesh government has decided
to give a subsidy totalling Rs 1,776 crore on the tariff fixed
by the Electricity Regulatory Commission this fiscal to
provide relief to power consumers in some categories.