Economy
Utilise the food mountain to fight rural impoverishment
THE Union Minister for Food, Consumer Affairs and Public Distribution, Mr. Shanta Kumar, is faced with an unprecedented situation of glut with the growing wheat mountain with the Food Corporation of India (FCI) and the dwindling off-take from the public distribution system (PDS).

Combined GFD of Centre, States up 9.9%: RBI report
THE combined gross fiscal deficit (GFD) of the Centre and the States in 1999-2000 rose to 9.9 per cent of GDP (Rs. 1,93,471 crores) as against the budget estimate (Rs. 1,48,581 crores). In 1998-99, the combined deficit was 8.9 per cent of GDP (Rs. 1,56,9 28 crores) in 1998-99, according to the annual report of the Reserve Bank of India.

Taxation
FICCI for comprehensive service tax act
FICCI, in a note submitted to the expert group on service tax, has said that a comprehensive Service Tax Act may be enacted to avoid ambiguity on various provisions of service tax with its corresponding set of rules. The definitions of taxable services s hould be simple and explicit so as to include the intended services and exclude the rest. The existing provisions are cumbersome and time-consuming and need better administration.

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