Monday, October 1, 2012

Federation Cup 2012

East Bengal regained the Federation Cup after a season, beating Dempo SC 3-2 in the final at Kanchanjungha Stadium. 

Federation Cup:
The Federation Cup (abbreviated as Fed Cup) is an annual knockout style club football tournament in India. It has started in 1977. From its inception till I-League has been started in 1997 (then called NFL), it was the most prestigious national level club football tournament in India. Presently it is the most important club tournament after the I-League, to which it has become a de facto League Cup. The winning club of the Federation Cup gets a chance to compete in the continental level in AFC Cup.

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Kelkar panel recommendations

The Committee headed by former Finance Secretary Vijay Kelkar asked Government to eliminate various subsidies in phases by hiking prices of LPG, kerosene, diesel and food grains  by one-third by 2014-15 in ration shops to deal with the deteriorating fiscal situation. 
It also suggested a slew of bold measures to cut the subsidy bill, which did not find favour with the government.
About disinvestment, the Committee said that in absence of adequate steps the government will be able to raise around Rs 10,000 crore, as against the budget target of Rs 30,000 crore.
It cautions that in absence of these measures, the fiscal deficit of the government could shoot up to 6.1 percent of the Gross Domestic Product (GDP) in the current financial year where as it can can be contained to 5.2 percent with the proposed reforms.

Worth reading