Indian appointed to lead UN’s Change Management Team

Atul Khare will head the panel which will suggest reforms to make the UN work more efficiently

United Nations (UN) chief Ban Ki-moon has appointed Atul Khare of India as head of its Change Management Team (CMT), tasked with suggesting reforms to make the global organisation work more efficiently.

Mr Khare, who has also served as the assistant secretary-general for UN Peacekeeping Operations, will lead the CMT which will guide the implementation of a forward-looking reform agenda, the UN said in a statement, reports PTI.

The agenda includes “formulation of a comprehensive plan to streamline processes, increase accountability and improve the effectiveness and efficiency of the organisation in the delivery of its mandates.”

“The establishment of the CMT is a further step in the efforts of the Secretary-General to strengthen the United Nations as it is called on to play an increasingly prominent role in a period of rapid change and financial constraint and build a management culture focused on excellence and result,” it said.

Mr Khare has also served as the Special Representative of the Secretary-General for Timor-Leste and Head of the UN Integrated Mission in Timor-Leste from December 2006 to December 2009.

During his stint with the Indian Foreign Service, Mr Khare served in France, Mauritius, Senegal, Thailand and the United Kingdom, as well as the Mission of India to the United Nations in New York.


Fiscal deficit down to 4.7% in FY11, lower than govt’s revised estimate of 5.1%

Controller General of Accounts says lower deficit achieved through better revenue realisation and expenditure compression. Finance minister expresses satisfaction over downtrend

New Delhi: The government has managed to contain its fiscal deficit—the gap between overall expenditure and receipts—at 4.7% of the GDP in 2010-11. This is much lower than the revised estimate of 5.1% and could provide much-needed comfort to the Centre in fighting inflation.

The deficit stood at Rs3,69,043 crore for the fiscal year ended March 2011, constituting 4.69 per cent of gross domestic product which was at Rs78,75,627 crore, according to figures made available by the government on Tuesday.

Finance minister Pranab Mukherjee had in his Budget presentation in February, revised downwards the fiscal deficit number for 2010-11 to 5.1%, against an earlier estimate of 5.5%, on the back of higher-than-expected realisations from the auctioning of 3G and BWA spectrum, PTI reports.

During the current financial year, the government expects to bring down the fiscal deficit to 4.6% and the finance minister has already expressed the confidence of meeting the target.

He said that the fiscal deficit trend was quite encouraging. “It is little less than what I projected in the revised estimate and this year also I will be able to keep the fiscal deficit target,” Mr Mukherjee said.

According to data released by the Controller General of Accounts, the fiscal deficit was lower by around Rs32,000 crore over the revised estimates for 2010-11 on the back of better revenue realisation and expenditure compression. The total fiscal deficit during the year stood at Rs3,69,043 crore, which was 92% of the revised estimate of Rs4,00,998 crore, a clear improvement on the fiscal front.

The Centre's fiscal deficit grew to over 6% in 2008-09, after the government’s stimulus measures for a slowing economy. In that year, the fiscal deficit should have been contained to half, that is about 3% of GDP, as per the Fiscal Responsibility and Budget Management Act. In 2009-10, the fiscal deficit stood at 6.6%.

Revenue receipts in 2010-11 were Rs7,94,277 crore, which was 101.3% of the revised estimate of Rs7,83,833 crore. Of this, tax receipts was Rs5,72,790 crore or 101.6% of the revised estimate of Rs5,63,685 crore. Non-tax receipts stood at Rs2,21,487 crore, which was 100.6% of the revised estimate of Rs2,20,148.

Non-debt capital receipts in 2010-11 stood at Rs35,599 crore. This was 112.1% of the Rs31,745 crore fixed in the revised estimates by the government. The total receipts last fiscal were Rs8,29,876 crore, or 101.8% of the revised estimate of Rs8,15,578 crore.

In the last fiscal, non-plan expenditure was Rs8,21,569. This is the same as the revised estimate. The plan expenditure in 2010-11 was Rs3,77,350 crore which was 95.5% of the revised estimate of Rs3,95,024 crore.

Total expenditure during the fiscal was Rs11,98,919 crore or 98.6% of the revised estimate of Rs12,16,576 crore.

The revenue deficit in 2010-11 stood at Rs2,44,853 crore. This was 90.7% of the revised estimate of Rs2,69,844 crore.


China’s manufacturing slows down

The Chinese Purchasing Managers’ Index was at 52 from 52.9 in April, indicating that manufacturing expanded at the slowest pace in nine months.

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