CAG for restructuring of government's accounts

Government of IndiaGovernment's auditing regulator, the Controller and Auditor General (CAG) has pointed out some serious fallouts in the accounts of some government departments. CAG, in a report on government's accounts for 2007-08, tabled in parliament on Friday, holds responsibility to the finance secretary and the expenditure secretary for the report preparation and anomalies.

The report by CAG, pointing misuse of funds, maintains, "Union Government made a provision for transfer of central plan assistance of Rs51,259 crore directly to state/district level autonomous bodies... for implementation of centrally sponsored schemes."

Interim budget provides for six-month extension to 2% interest subsidy scheme

Pranab MukherjeeOfficiating finance minister Pranab Mukherjee's Interim Budget for 2009-10 has provided for a six-month extension of the interest subsidy scheme, for exporters' loans taken in the labor-intensive sectors.

The announced extension of the 2 percent interest subsidy scheme - for small and medium enterprises as well as long-established export areas, like leather, textiles, marine products, gems and jewellery - will be costing the exchequer nearly Rs 500 crore in 2009-10.

Government to probe accounts of Educomp and Six other PSUs

Educomp The government, after ordering probe into IPOs of all listed companies, has ordered to scrutinize accounts of the education software and services firm, Educomp Solutions and Six public sector companies.

The move is aimed to check financial irregularities of accounts of these firms after the disclosure of largest ever corporate fraud committed by disgraced Satyam's Chief B Ramalinga Raju and other top executives of beleaguered software company.

Government revises wheat MSP to Rs 1080/quintal

Government revises wheat MSP to Rs 1080/quintalThe Union Government has finally announced hike in minimum support price of Wheat to Rs 1080 per quintal, ahead of harvesting season of rabi crops. The decision, to revise MSP, was taken in the recent meeting of the Cabinet Committee on Economic Affairs (CCEA) on Wednesday, chaired by Finance Minister Pranab Mukherjee, in the absence of Prime Minister Manmohan Singh. The hike of 8 per cent in wheat prices, despite reservation by Planning Commission and Finance Ministry, would effective on crop marketed from April onward.

3G auction deferred by cabinet again

3G auction deferred by cabinet again On Thursday, a plan to auction third-generation radio frequencies for wireless service providers was referred to Group of Ministers (GoM) by the Union Cabinet. In order to drive next-generation mobile offerings, 3G services are quite vital. The offerings include high-speed internet and video conferencing.

3G spectrum auction process may further delay

3G spectrum auction process may further delayThe Department of Telecommunications (DoT) has approached Union Law ministry to get legal aid on the issue of increasing base price for 3G and broadband wireless access (BWA) spectrum allocation.

Interestingly, the telecom department is not is the favor of increasing base price of 3G spectrum as it can discourage companies to participate in the auction process. Low participation by companies may decrease competitiveness that can lead to significant losses to state exchequer.

Truckers call off eight-day strike unconditionally

Truckers call off eight-day strike unconditionallyAll India Motor Transport Congress (AIMTC) has called off eight day long transporters strike on Monday. The transport strike crippled the entire nation with adverse impact on supply of essential commodities and services. Some states had also imposed Essential Services Maintenance Act (ESMA) on striking transporters to deal with the situation.

Satyam may get financial aid from government

Satyam may get financial aid from governmentGovernment may announce bail out package for beleaguered IT giant, Satyam Computer services for salary payout and to avoid large scale lay-offs. The company has 53,000 employees engaged in its various operations and their future is hanging in dark following revelation of largest ever corporate fraud in Indian history by its Chairman, Mr. R. Raju and other executives.

DoT rejects finance Ministry's proposals on 3G auction

DoT rejects finance Ministry's proposals on 3G auctionThe Union Telecom and Communications Ministry has declined the proposal of Finance Ministry to double the floor price for 3G and wireless broadband spectrum. Finance Ministry had recommended prices of pan-India 3G spectrum prices at Rs 4,040 crore and WiMAX prices at Rs 2,020 crore..

BJP welcomes Shivraj Patil''s resignation

New Delhi/ Jammu, Nov 30: Home Minister Shivraj Patil submitted his resignation over the Mumbai terror attacks that killed nearly 200 people while the Bharatiya Janata Party (BJP) welcomes the move and accuses the Congress of ''collective culpable negligence''.

Terrorists armed with rifles and grenades -- at least some of whom arrived by sea -- had fanned out across Mumbai on Wednesday night.

Gunfire and explosions rocked two luxury hotels and a Jewish centre leaving at least 195 people killed and 295 wounded after nearly a three-day long siege.

Election battlefield heats up ahead of assembly polls in Delhi

Election battlefield heats up ahead of assembly polls in DelhiNew Delhi, Nov 23 : Congress-party led United Progressive Alliance (UPA) Government banked on the ''nuclear deal issue'' to woo voters in New Delhi on Sunday ahead of the upcoming assembly elections even as other political parties raise other issues to heat up the election battlefield.

Addressing an election rally, the Chairperson of the ruling UPA, Sonia Gandhi said that India-US civil nuclear deal would boost the power generation in the country.

Union Govt. says Ram Sethu not a place of worship

Ram SethuNew Delhi, Oct 14 : The Congress-led UPA government has filed a fresh affidavit in the Supreme Court on the controversial Ram Sethu issue.

New Delhi, Sept 25 : The Communists and some of their allies staged a protest here on Thursday against the India-US civil nuclea

UPA & BJPNew Delhi, Sept 25 : The Communists and some of their allies staged a protest here on Thursday against the India-US civil nuclear agreement and demanded an immediate convening of Parliament to discuss the issue.

They accused Prime Minister Manmohan Singh of going back on assurances that he gave in Parliament in connection with the deal, which, they have alleged, would compromise the country''s sovereignty.

The Congress party-led ruling coalition United Progressive Alliance (UPA) has been facing flak from political parties, including the Left and the Bharatiya Janata Party

CPM charges UPA govt. of "underhand deals" with US nuclear firms

UPA, CPI(M)New Delhi, Sept 20 : The Communist Party of India (Marxist) on Saturday charged the United Progressive Alliance (UPA) government with striking "underhand deals" with US nuclear firms to buy reactors even before the 123 agreement has been clinched.

The CPM alleged that India had put in about Rs three lakh crore to "bail out" the ailing American nuclear industry.

The CPM politburo, in a statement, expressed its opposition to "these underhand deals struck by the UPA government" and demanded a cost-benefit analysis by an independent body before key decisions are taken regarding energy policy in the country.

UPA Government rules out bringing back POTA

India CongressNew Delhi, Sep 18 : The United Progressive Alliance Government today once again ruled out to bring back POTA to fight terrorism, saying that it was a draconian law.

Minister of Information and Broadcasting Priyaranjan Dasmunshi told reporters that POTA was against the human right and there is no question of re-enactment of the same law, which was misused in the past.

He said that the existing law to deal with terrorism is strong enough and if necessary, additional provisions will be added to further to strengthen it.

UPA’s softness on terror compromising national pride: Modi

UPA’s softness on terror compromising national pride: ModiBangalore, Sept 13 : Accusing the United Progressive Alliance (UPA) Government of being soft on terror and of following “minority friendly” policies in dealing with the menace, Gujarat Chief Minister Narendra Modi said on Saturday that his government is determined to carry on the battle “both against terrorists and against those who prevent us from fighting terror.”

India reserves right to conduct nuclear tests: says Anand Sharma

Congress & BJP LogoNew Delhi, Sept 4 : The Congress led United Progressive Alliance (UPA) Government has rejected the Bharatiya Janata Party’s (BJP) charge of having surrendered the country’s right to conduct nuclear tests to the United States.

The Congress spokesperson Anand Sharma while terming the BJP’s charges as preposterous said, “India reserves its right to conduct nuclear tests under the 123 Agreement.”

The government was forced to issue clarification after details of the letter sent by the Bush administration to the US Congress were revealed.

`UPA Government will not go beyond its commitment to Parliament,'' says Pranab on nuke deal

Pranab MukherjeeNew Delhi, Sept. 4 : External Affairs Minister Pranab Mukherjee on Thursday said that the UPA Government was not in a position to go beyond its commitment to Parliament on the US-India civil nuclear cooperation deal, even as an atmosphere of uncertainty prevails over India getting a waiver for nuclear commerce from the 45-member Nuclear Suppliers Group (NSG).

In an interview to All India Radio, Mukherjee said that there was no room for speculation and that the Government would wait for the outcome of the two-day deliberations before initiating the next steps to have the deal operationalised.

UPA Government stands totally exposed on US-India nuke deal: BJP

UPA & BJPNew Delhi, Sept. 4 : The Bharatiya Janata Party on Thursday said that the release of the letter sent by the Bush administration to Chairman of the House Foreign Affairs Committee on January 16 this year, by Rep. Howard L Berman, the present Chairman of the House Foreign Affairs Committee, completely exposes the Government of India and the fraudulent claims it has been making about the merits of the US-India nuclear deal.

UPA Govt seeks extension of stay on tribunal order on SIMI ban

UPA Govt seeks extension of stay on tribunal order on SIMI banNew Delhi, Aug 19 : The UPA Government has urged the Supreme Court to extend its stay on a tribunal’s order lifting the ban imposed on Students Islamic Movement of India (SIMI) charged with indulging in terrorist activities, including the recent Ahmedabad and Bangalore blasts.

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