-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...
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IMF says India shouldn’t rush to give banking licences to conglomerates-Remya Nair and Asit Ranjan Mishra
-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
More »Is UID-linked cash transfer a good idea?-Sreelatha Menon
-The Business Standard Reetika Khera Professor, Indian Institute of Technology, Delhi* “Aadhaar is being made de facto compulsory for welfare schemes. With two-thirds without Aadhaar, they are bound to be denied entitlements” There are three components of the government’s direct benefit transfer scheme — computerisation, extending banking services and linking the benefits with Aadhaar. The real game-changers are the first two, whereas Aadhaar-enabled transfers carry the risk of excluding current beneficiaries. The Central government has...
More »RBI cites law to stonewall RTI info-Sandeep Pai
-DNA As cases of denial of information under the Right to Information Act pile up, the Reserve Bank of India approached various courts as many as nine times against the Central Information Commission’s (CIC) orders directing it to provide information. Seven of these cases are now pending in the Delhi High Court while two are in the Bombay High Court. Not only has the RBI preferred litigation against providing information, the central...
More »Govt readies terms of Walmart probe -Sidhartha
-The Times of India The government's probe against Walmart over its lobbying-related disclosure is expected to include identification of alleged beneficiaries of the payments, a move that is aimed at blunting any opposition to foreign direct investment in multi-brand retail. Sources familiar with the development told TOI that the basic mandate given to the retired judge, who will investigate the issue is to ascertain if any portion of the lobbying expenses have...
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