The working group would comprise officials of State Governments as well as the Union Finance Ministry. The first draft of this working group is expected by middle April.

The Budget proposal would be good for consumers, but States would lose revenues. All the State Finance Ministers who attended today's meeting demanded 100 per cent compensation from the Centre for loss of revenues from this move. I think it is only fair that they be fully compensated.

Credit buying is much like being drunk. The buzz happens immediately, and it gives you a lift. The hangover comes the day after.

News classifications up to now typically consisted of about 12 terms, like sport, world news, finance, that a journalist knew off by heart.

The vital importance of this ministry demands a professional and transparent minister who has no links to any party. If he is a technocrat, that will ensure that his loyalty is with Iraq.

The ministry paid $250 million two days ago and the rest of the money will be paid within days. The ministry had agreed with the firms as well to provide Iraq with oil products for the first quarter of 2006.