Government rules out fresh debt waver scheme

August 21st, 2009 CHANDIGARH - The bed and breakfast (B&B) scheme started with much fanfare here last September to give a boost to tourism has run into rough weather. Authorities say landlords are violating rules, while the landlords say the authorities are being influenced by hotel owners who do not want the scheme to succeed.

August 18th, 2009 NEW DELHI - The government will infuse fresh capital into the regional rural banking system to increase credit flow to the farm sector, Finance Minister Pranab Mukherjee said here Tuesday. "The non-performing assets (NPA) levels of the regional rural banks (RRBs) are within acceptable limits.

August 4th, 2009 NEW DELHI - The UPA Government is preparing a new National Agriculture Insurance Scheme to make it more inclusive for farmers of the country. Union Food and Agriculture Minister Sharad Pawar on Tuesday, in reply to supplementaries in the Lok Sabha, informed that the scheme takes into consideration, factors like larger unit area of insurance among low indemnity level and inadequate coverage of risk.

July 30th, 2009 CHANDIGARH - Scores of borrowers owe over Rs. 26.16 billion (Rs.2,616 crore) to the Punjab Financial Corporation (PFC), an agency of the Punjab government.

July 28th, 2009 NEW DELHI - Downplaying the claim that President Pratibha Patil was behind union government's ambitious farm loan waiver scheme, the Congress party has maintained that inputs for the scheme had from diverse quarters. Commenting on a remark by presidential secretary Christy Fernandes that Patil was instrumental in the implementation of the scheme; Congress spokesman Abhishek Manu Singhvi maintained that the scheme was party's brainchild.

July 17th, 2009 NEW DELHI - Housing and Poverty Alleviation Minister Kumari Selja today informed the Lok Sabha that the government is planning to launch a new housing scheme for slum dwellers and urban poor since the scheme is aimed at providing subsidy up to five per cent on a loan of Rs one lakh availed by the poor. "Government proposes to launch 'Rajiv Awas Yojana' in the country for slum dwellers and urban poor.

July 14th, 2009 NEW DELHI - The government is not considering a fresh disclosure scheme for unearthing hidden wealth even as talks are underway with Mauritius to ensure Indians are not able to park their ill-gotten wealth in the island nation, parliament was informed Tuesday. A committee was set up in 2004 and has made some recommendations but I am not enamoured with another disclosure scheme, Finance Minister Pranab Mukherjee said during question hour in the Rajya Sabha.

July 8th, 2009 RAIPUR - Chhattisgarh's Bharatiya Janata Party (BJP) government Wednesday launched a food security scheme to provide rice at Rs.2 and Re.1 a kilogram and free salt to 3.7 million families. The new scheme has replaced the Chief Minister's Food Assistance Scheme under which rice was supplied at Rs.3 a kilogram.

July 6th, 2009 NEW DELHI - The government has extended the debt relief scheme for farmers from June 30 to the end of the year, Finance Minister Pranab Mukherjee announced Monday. "The time given to the farmers having more than two hectares of land to pay 75 percent of their overdues under Debt Waiver and Debt Relief Scheme has been extended from June 30 to Dec 31, 2009," a government spokesperson announced.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the target for the agriculture credit flow for the year 2009-10 is being set at Rs. 3,25,000 crore.

June 26th, 2009 MUMBAI - The Reserve Bank of India (RBI) Friday advised public sector banks to write off farmers' loans even if they failed to fully pay the stipulated 75 percent of the total loan amount. Under the debt relief scheme, launched in the 2008-09 budget, banks were allowed to write off up to 25 percent of farmers' loans if they pay 75 percent of their debt.

June 24th, 2009 German cabinet approves 2010 budgetBERLIN — Germany's cabinet has approved a budget for 2010 that foresees taking on record debt to help safeguard the country against the global financial crisis, the finance minister said Wednesday. The new budget anticipates euro86.1 billion ($120.35 billion) in fresh debt, more than double the euro40 billion for the current year and the largest credit to be taken out by the German government since World War II.

June 5th, 2009 ISLAMABAD - Prime Minister Yousuf Raza Gilani Friday called on the US to write off Pakistan's debt to help Islamabad overcome the current economic crisis aggravated by the war on terror, a media report said. Gilani told visiting US special envoy for Pakistan and Afghanistan, Richard Holbrooke, during a meeting at his house that the debt waver would help Pakistan to mobilise resources for the displaced people in the North West Frontier Province (NWFP), Geo TV reported.

May 1st, 2009 NEW DELHI - A new voluntary pension scheme came into force in India Friday with young people as its main target, and hoped to reach out to the 87 percent of the nation's workforce that remained uncovered by any retirement benefit. The Pension Fund Regulatory and Development Authority has extended the scheme on May Day to all citizens, after introducing it for fresh recruits of the central government since Jan 1, 2004.

January 18th, 2009 NEW DELHI - Delhi Police Monday registered a fresh case against real estate agent Deepak Kumar, who has already been arrested, and sought clarification from the Delhi Development Authority (DDA) about how a flat not included in the scheme was allotted to an applicant. The Economic Offences Wing (EOW) registered the case against Deepak Kumar, who allegedly blew the lid off the fraud after he fell out with a cartel of property dealers, for obtaining two PAN (permanent account number) cards in separate names.