FM sticks to 8.5% growth despite higher IMF forecast

FM sticks to 8.5% growth despite higher IMF forecast

New Delhi, July 19: Finance Minister Pranab Mukherjee today said he will not be swayed by the IMF’s higher growth projection of 9.5 per cent but will stick to his conservative outlook of about 8.5 per cent plus economic expansion for the current fiscal.

“Always, we have dispute with the IMF. I was inclined to accept the IMF assessment for India’s growth for the year when they projected it 9.4-9.5 per cent. But I am being conservative in my assessment...I will be happy with 8.5 per cent plus growth,” Mukherjee told a conference on financial inclusion hosted by industry body CII here.

Earlier this month, the International Monetary Fund (IMF) had hiked the country’s growth forecast for 2010 to 9.5 per cent from its April projection of 8.8 per cent.

Train tragedy in West Bengal again - 61 dead, 157 injured

Train tragedy in West Bengal again - 61 dead, 157 injured

Sainthia (West Bengal), July 19: A speeding express train ploughed through a train standing at a station in West Bengal’s Birbhum district early on Monday, killing at least 61 people and injuring more than 150. It was the second train disaster in the Communist-ruled state in less than two months that have taken a toll of over 200 lives.

The Sealdah-bound Uttar Banga Express slammed into three coaches, one luggage van and two unreserved second class coaches, of the stationary Bhagalpur-Ranchi Vananchal Express at Sainthia station in Birbhum, about 190 km from Kolkata, at about 2.15 a.m., railway authorities said. All three coaches were badly mangled by the severity of the collision with one of the coaches shooting from the tracks and almost mounting the footbridge above. Gas cutters were used to cut open the coaches and bring out the dead and rescue the injured.

Sit-ins, protests amid separatist shutdown in Kashmir

Sit-ins, protests amid separatist shutdown in Kashmir

Srinagar, July 15: People came out in large numbers to stage sit-ins and protests at many places in this Jammu amd Kasmir summer capital Srinagar on Thursday on the second day of a separatist shutdown even as restrictions were removed throughout the Valley. People came out in Nowhatta, Rajouri Kadal, Naid Kadal, Safa Kadal, Bohri Kadal and Khanyar areas of the city early Thursday and staged sit-ins and protests in response to the call given by the separatist Hurriyat group headed by Syed Ali Geelani.

Similar protests were witnessed in Habba Kadal, Batmaloo, Bemina, Chanapora, Barzalla, Kani Kadal, Rambagh areas in the city. Groups of youth challenged private transport vehicles that plied in the city, forcing them to withdraw from the roads. The separatists had called for a complete Valley-wide shutdown. Markets, banks, public and private transport, educational institutions and other business establishments remained closed in Srinagar city and other major towns of the Kashmir Valley. Groups of youth also clashed with the security forces in Chattabal, Bemina, Habba Kadal and Barzulla areas of the city. Security forces used batons and tear smoke shells to disperse the protesters. Similar clashes were also reported from south Kashmir’s Pampore town in which six people suffered minor injuries. Lawyers took out a protest march in Srinagar against the arrest of Kashmir Bar Association president Mian Qayoom, who has been detained by the authorities under the Public Safety Act (PSA) for allegedly inciting the youth to violence.

“The overall law and order situation was tense, but under control throughout the Valley and no major untoward incident occurred anywhere,” a police officer said. People during the sit-ins also organized free roadside kitchens those served tehri (yellow rice prepared with tamarind and edible oil) to the participants of the day’s protests. At least 15 civilians were killed in the valley in firing by security forces since June 11 and the government has decided to hold an independent enquiry to establish the circumstances those led to the unfortunate deaths of the civilians. (IANS)

Sonia's NAC clears pruned Food Security Act

NEW DELHI: Inadequate supply of foodgrain has forced the Sonia Gandhi-led National Advisory Council (NAC) to settle for a pruned National Food Security Act, at least for the time being.

Hamstrung by the problem of low procurement of paddy and wheat, NAC on Wednesday decided to limit implementation of the universal PDS in its first phase to one-fourth of the total administrative blocks of the country.

The decisions taken on Wednesday NAC come as a compromise between the competing demands of the Right to Food campaign and the Planning Commission and the food ministry. While the former had asked for complete universalisation, the Plan panel and the food ministry, it seems with tacit approval of top government leaders, had demanded a modest programme to keep the subsidy burden in check and because of uncertainties about procurement.

The meeting, sources told TOI, saw Sonia coming out in support of an enhanced and wider coverage under NFSA even as some members wanted to put a check on the subsidy burden it would lead to and limit the social security net. Subsidy should not be a concern, the Congress chief was quoted as saying as she batted aside reservations about universal coverage.

However, Sonia, who had pushed for expanding the reach of the scheme and even opposed reducing existing entitlements of those living above the poverty line, agreed that foodgrain supply had to be kept in mind.

The first phase will be implemented within a year of the bill's enactment, and the intent is to expand `universal' coverage to other blocks in phases in keeping with the availability of foodgrain.

The phased rollout of NFSA will require the government to provide 35 kg of foodgrain at Rs 3 a kg to almost all in one-fourth of the poorest blocks of the country. In these blocks, only the rich would be kept out.

In the rest of the country, roughly 45-50% of the population would get subsidized foodgrains, with Scheduled Castes, Scheduled Tribes and other socially and occupationally disadvantaged -- a category that will include HIV patients, homeless, destitutes, single women households and others -- being included automatically.

The entitlement of socially and occupationally diasvantaged groups bears the fingerprint of the NAC, as the government had initially opposed blanket coverage.

In urban areas, roughly one-third of the population will be able to avail cheap rice and wheat under NFSA. The criteria for inclusion of people in urban areas on the beneficiary list will be decided as per the Hashim committee report.

Provisions of the Mid-Day Meal scheme and the Integrated Child Development Scheme would also be turned into legal entitlements. Besides agreeing to set up community kitchens under the Act, the NAC also decided that special nutrition support programmes for vulnerable sections would be started in the first phase on a country-wide basis under Congress's big-ticket 'aam aadmi' scheme.

The Mid-Day Meal and Integrated Child Development Scheme will also be expanded to include destitutes, aged, disabled, infirm adults, single women and the homeless.

While it was decided that those living above the poverty line should be provided 25 kg of foodgrain under the scheme, the NAC could not conclude at what price.

The NAC in its future meetings will work on PDS and ICDS reforms, expanding agricultural production and procurement as well as detailing the principles agreed upon besides drafting provisions of the law.

TOI