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Subsidised LPG price hiked by Rs 2 per cylinder

Subsidised LPG price hiked by Rs 2 per cylinder

Subsidised cooking gas (LPG) price was on Thursday hiked by Rs 2 per cylinder, the third straight increase since July in rates as the government looked at monthly increases to cut down subsidies.

Government eliminates 1.6 crore bogus ration cards, to save Rs 10,000 crore

Government eliminates 1.6 crore bogus ration cards, to save Rs 10,000 crore

Government has eliminated 1.6 crore duplicate and bogus ration cards that will help save about Rs 10,000 crore in subsidy bill annually, said Finance Secretary Ashok Lavasa.

Jalan panel on expenditure management to submit report by December

The Expenditure Management Commission set up by the government to suggest ways to rationalise subsidies will submit its final report by December 2015, its Chairman Bimal Jalan said on Thursday.

US farm lobbies call for action over India, China subsidies

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.

US challenges Chinese export subsidies

The United States on Wednesday launched a legal challenge to Chinese subsidies supporting billions of dollars of exports across a wide swathe of industries from steel to shrimp.

Jan Dhan Yojna aims at encouraging savings: P Jayaram Bhat

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.

Sudan says to keep key subsidies in 2015, not raise taxes

 Sudan will keep in place subsidies on wheat and petrol and not raise taxes in 2015, the finance minister said on Monday as he presented next year`s budget to parliament.

More steps to rationalise subsidies on anvil: Arun Jaitley

The Centre had set up a Commission under former RBI Governor Bimal Jalan to suggest steps to rationalise subsidy and help the government in effectively bringing down the fiscal deficit.

Govt to streamline subsidies, cheap LPG for rich may go: Arun Jaitley

However, he maintained that some element of subsidy will have to remain for a large section who are entitled to it since the country has lot of poor people who need state support.

Jalan panel to suggest ways to cut subsidies, hike user charges

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.

4.1% fiscal deficit target a daunting challenge: Jaitley

Finance Minister Arun Jaitley on Friday said the fiscal deficit target of 4.1 percent of GDP for the current fiscal is a "daunting" task and announced the subsidy bill will be reduced progressively.

Budget may focus on tax reforms, lower subsidies: Barclays

The Narendra Modi government is expected to propose a pro-growth budget focused on tax reforms, lower subsidies and asset sales, global financial services company Barclays said here.

Subsidy kills innovation, interest of people: Chakrabarty

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.

'Subsidies for entrepreneurs in rural, urban areas'

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.

Aadhar not mandatory for availing of subsidies: Govt

Aadhaar card is not mandatory to avail of subsidies under government schemes including on domestic cooking gas, the government today said in the Rajya Sabha.

Parliament nod sought for additional spending of Rs 49,715 crore

The government today sought Parliament's approval to spend an additional Rs 49,715.54 crore mainly to meet the outgo on fuel, fertiliser and food subsidies in the current financial year.

'Govt to cut subsidies outgo to 1.5% of GDP by 2016-17'

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".

RBI asks govt to cut subsidies, boost capital expenditure

The Reserve Bank has called upon the government to cut expenditure on subsidies and "use resources so released to step up public capital expenditures".

Govt's commitment to rule-based fiscal policy, capping subsidies important: RBI

Government's resolve to cap subsidies to control expenditure and its aim to return to budget-deficit targets are important steps toward fiscal consolidation, a top central bank official said Friday.

Bringing down subsidies below 2% not easy: FICCI panel

A FICCI panel Monday said bringing down subsidies below 2 percent of GDP in 2012-13 from the existing 2.4 percent level will not be an easy task.