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Economic and Business Current Affairs July 21 2013



Nabard to extend Rs 5K-cr funding window to private grain players

With the food security law likely to put pressure on grain storage requirement, private bodies will also be able to avail of soft loans from the Rs 5,000-crore corpus for warehousing, managed by Nabard.
FY'14 Budget :Allocation of Rs 5,000-crore, Food Security Bill,
A corpus to be managed by Nabard to Finance construction of warehouses, godowns, silos and cold storage units.
Initially the scheme was limited to the states or state-run entities.
The Cabinet this month decided to issue an ordinance to implement the Food Security Bill, which aims to give the nation's two-thirds population a right to 5 kg of foodgrain every month at highly subsidised rates of Rs 1-3 per kg

MGNREGA spending in Assam down 13% in FY’13

The government’s spending on Mahatma Gandhi National Rural Employment Guarantee Act scheme in Assam has been declining continuously in the last four fiscals and it dropped by 13 per cent during 2012-13.
Total expenditure MGNREGA (figures accounted from all 27 districts)

(2012-13),[ Centre + State]: Rs 651.55 crore.
(2011-12): Rs 748.44 crore  
(2010-11): Rs 921.04 crore
(2009-10): Rs 1,033.52 crore

Expected: 136. Unskilled labourer is paid a daily wage of Rs 136
Actual: Unskilled labourer is paid a daily wage of Rs 152 at present.

FIIs pull out $3 bn from capital markets in July

Overseas investors have pulled out more than Rs 17,000 crore (about $3 billion) from the Indian capital markets so far this month
The outflows as of July 19:
Debt Market: Rs 11,196 crore ($1.87 billion)
Equities : Rs 6,005 crore ($1 billion)
Foreign institutional investors (FIIs) had withdrawn a record Rs 44,162 crore ($7.5 billion) from the debt and equities markets in June.There has been turmoil in the global markets after the US Federal Reserve said it may taper the $85-billion-a-month bond purchase programme later this year and end it next year if the US economic recovery is up to its expectations.

 


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