Trade and development report update: April 2024
The report forecasts global economic growth to 2.6% in 2024, barely above the 2.5% threshold commonly associated with a recessionary phase. The report says the prevailing focus on inflation overshadows
Economic Development
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Govt decides to introduce RTE Bill in Budget session
WITH the current year dotted with elections, the UPA government has decided to introduce the Right to Education (RTE) Bill in the Budget session of Parliament. Prime Minister Manmohan Singh, who overrode the reservations expressed by a high-level group about the need for a Central legislation, would like the Bill to be introduced now. The ministry of human resource development (HRD) is in the process of preparing a Cabinet note, which is due to be taken up for consideration in the next two weeks. The Bill may find a mention in finance minister P Chidambaram's Budget speech too. A working committee headed by A K Rath, secretary, school education and literacy, HRD ministry, is finalising the draft of the legislation. The RTE will provide the blueprint for making systemic changes in the elementary education sector. The ministry is clear that the RTE is not another way to garner more funds for elementary education, but an opportunity to reform and rationalise the system. The promise of systemic reforms will also help to counter the growing lobby for the privatisation of school education. The private school lobby has consistently called for the opening up of the education sector, allowing "for-profit' organisations to play a role on the grounds that government schools can't provide quality education. A legislation geared to providing quality and norms for it would counter this move. Both issues of increased fiscal outlay and legal responsibility are being addressed. Many of the expenses of operationalising the RTE are being taken care of by the funding for the Sarva Shiksha Abhiyan and teacher's education. A more realistic and lower expenditure bill is being arrived at by dovetailing the expenses of the Right to Education Bill, and the SSA and teachers' education. The fear of increased volume of public interest litigations (PIL) mandating the Centre to sanction and fund infrastructure far beyond its financial capability is being addressed by setting realistic targets for states to roll out the implementation of the Bill. For the enabling right to education, it has been a long and arduous journey. More than five years have gone since Parliament passed the 86th Constitutional Amendment giving every child between the age of 6 and 14 years the right to free and compulsory education (Article 21 A). However, Article 21 A could not be notified as the enabling legislation had not been enacted. Work on the RTE was started by the NDA government soon after Parliament passed the Constitutional Amendment Bill in December 2002. The first delay came when the NDA was voted out of power in May 2004. Work on the RTE was then taken up by the Kapil Sibal committee of the Central Advisory Board of Education (CABE). The financial implications for the Sibal draft was worked out by the then National Institute of Education Planning and Administration (NIEPA). As per these estimates, the government would require to spend a minimum of Rs 3,21,196 crore over six years to implement the legislation
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FM's options for achieving 9% growth
AFTER putting up a rather robust macroeconomic performance over the past five years, the Indian economy is now facing some challenges. One expects that the finance minister will address these challenges in a manner that the economy is able to sustain the 9% plus growth trajectory uninterrupted.
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Stable SEZ policy must to enhance exports: EPC
Exports from SEZs touch Rs 40,000 cr in 9 months Close on the heels of Goa government, buckling under political pressure, seeking scrapping of all SEZs in the state, the Export Promotion Council (EPC) and SEZ developers have underlined the need for "stability and continuity' of SEZ policy to multiply Indian exports.
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9 states interested in investment in MP
Apart from Madhya Pradesh, investors from nine other states have shown keen interest in making investments in the state at the Jabalpur Investors Meet held recently. Thirty-six investors from nine other states have signed 41 Memoranda of Understanding to the tune of Rs 46337 crore. In all, 61 MoUs worth Rs 56829 crore were inked at Jabalpur Investors Meet. With proposals worth Rs 18150 crore, Delhi tops the list as far as amount is concerned while the industrial houses of West Bengal's capital Kolkata have topped in the number by signing 13 MoUs.
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Rs.6,210-crore Annual Plan for Punjab
Punjab calling: Punjab Chief Minister Parkash Singh Badal calling on Planning Commission Deputy Chairman Montek Singh Ahluwalia in New Delhi on Tuesday. NEW DELHI: The Annual Plan of Punjab for 2008-09 was on Tuesday finalised at Rs.6,210 crore at a meeting here between Planning Commission Deputy Chairman Montek Singh Ahluwalia and State Chief Minister Prakash Singh Badal. The Plan outlay includes an additional Central assistance component of Rs. 200 crore for the priority projects of the State.
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What Will The Budget Bring?
Micro-finance is the key to helping India's poorest
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A people-friendly budget on the cards (Editorial)
Indian Prime Minister Manmohan Singh's government is gearing up to present its last budget before the general election and there is no doubt that please-all is going to be the mantra for this annual accounting ritual. Finance Minister P Chidambaram has made it clear that next year will only be a vote on account, so his last budget speech - at least under the present regime - will be on Feb 29.
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Panel to study ways to mitigate exporters' woes
Union Commerce and Industry Minister Kamal Nath (left) being welcomed by FICCI President Habil Khorakiwala at the 80th annual meeting of FICCI in New Delhi on Saturday. NEW DELHI: With a view to bailing out exporters reeling under the impact of a costlier rupee, the Centre has asked the Finance Commission to figure out and suggest ways in which it could refund State levies to traders and adjust the same against the States' accounts. In fact, the terms of reference have been enlarged to enable the Commission to address itself to this aspect.
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SEZ lessons from China
Anurag Viswanath & Manoranjan Mohanty / New Delhi India seeks to emulate China's SEZ policy though it is increasingly under attack there.
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Annual Plan pegged at Rs 2,400 cr
The size of the 2008-2009 Annual Plan for Himachal has been fixed at Rs 2400 crore, an increase of 14 per cent over the current financial year. The plan was finalised at a meeting between Chief Minister Prem Kumar Dhumal and deputy chairman of the Planning Commission Montek Singh Ahluwalia in Delhi today.