http://www.the-hindu.com/stories/0207000h.htm
By Our Special Correspondent

NEW DELHI, DEC. 6. The Union Cabinet has decided to split the National Scheduled Castes and Scheduled Tribes Finance and Development Corporation into two, on the ground that the needs of SCs and STs varied and consequently a single organisation was not able to do justice to either of the weaker sections adequately.

Announcing this, the Union Minister and Cabinet spokesperson, Mr. Pramod Mahajan said while the new corporation for SCs would be under the control of the Social Justice Ministry, that for STs would be under the charge of the Tribal Affairs Ministry.

The Cabinet, which met here last night, also decided to introduce the much-awaited fiscal responsibility and budget management bill in Parliament in the next few days. The Bill, which is aimed at imparting discipline to Government finances, would, among other things, seek to effect a 10 per cent statutory cut on Government expenditure and borrowing annually from next year, besides bringing down revenue deficit to zero level in three years.

According to official sources, the Bill would seek to provide for setting up a high-power panel headed by the Finance Minister to monitor steps to curb expenditure and borrowing by both the Central and State Governments.