Most of the respondents in Uttar Pradesh, Himachal Pradesh and Kerala prefer an effective PDS to cash transfer. THE survey of the public distribution system (PDS) in nine States, of which I was a part in Himachal Pradesh (Sirmaur district), Uttar Pradesh (Jaunpur district) and Kerala (Wayanad district), came as an eye-opener to me on many counts. If Himachal Pradesh stood out for the innocence of its people, Uttar Pradesh...
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Black money trail: Govt may move against HSBC, Rs 80 cr mopped up by Ritu Sarin
The Government is contemplating legal action against HSBC Bank for what is being described as the “active’’ role of their executives in persuading Indian account-holders to open accounts to park undeclared money in their branch in Geneva. The Central Board of Direct Taxes (CBDT) has sought the opinion of the Law Ministry for this and underlined that a similar course of action has been taken by other countries who, like India,...
More »Black money debate: Government agrees to bring white paper
-The Economic Times Finance minister Pranab Mukherjee has said he had directed three institutions - NIPFP, NIFM and NCAER - to come out with a defendable assessment of the quantum of black money stashed away by Indians in foreign banks. Replying to the discussion on the adjournment motion moved in the House by BJP veteran LK Advani on "the situation arising out black money deposited illegally in foreign banks", Mukherjee declared...
More »Fragmented Bengal funds other states
-The Telegraph RBI governor D. Subbarao has expressed concern over Bengal’s low credit-deposit ratio, which means that funds from the cash-starved state are actually meeting the borrowing needs elsewhere. The erstwhile Left government used to blame banks for the skewed ratio. But bankers have blamed it on the poor credit absorption capacity of rural Bengal because of fragmented land holdings — a fallout of the land reforms. After a meeting with chief minister...
More »Assets worth Rs 4.5 cr found at peon's house
-The Hindustan Times Lokayukta sleuths raided the residence of a Class IV employee of the Ujjain Municipal Corporation on Wednesday and found documents showing assets worth Rs 4.5 crore. According to the documents Narendra Deshmukh, a 53-year-old peon-cum-storekeeper, owns two houses, a poultry farm, a chicken shop, five acres of land in Maharashtra’s Jalgaon district, partnership in a 10-room hotel in Mumbai, two sport utility vehicles (SUVs) worth more than Rs 16...
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