Inflation in July may have eased from multi-month highs, but that still may not be a cause for celebration as core inflation remains sticky at 6%. This may prompt the central bank to raise the repo rate as much as 35 basis points, Nomura Securities said. “Headline inflation moderates due to volatile components, but underlying … Read more
The finance ministry‘s Department of Expenditure has argued against extending the free food ration scheme beyond September or making any major tax cuts, warning of consequences for the government’s fiscal position. The government in March extended the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for six months to September. The government has budgeted ₹2.07 lakh … Read more
The government will increase allocation of rice and decrease that of wheat to beneficiaries under its free grains programme as part of efforts to ensure availability of wheat in the domestic market amid a forecast of reduced crop yield this year. Under the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY), 800 million poor people are … Read more
The TMC on Sunday urged the Centre to extend its free ration scheme under Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for another six months amid reports that the programme might be discontinued after November 30. The scheme was launched in March last year, after the COVID-19 pandemic struck, leaving lakhs of people in distress. … Read more
The Centre on Friday said there is no proposal at present to extend free foodgrains supply via the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) to provide relief to ration card holders, in view of recovery in the economy and good disposal of foodgrains in the open market under the OMSS policy. Initially, the additional … Read more