57 lakh tonnes of ore purchased from unlicensed dealers The Department of Mines and Geology has initiated proceedings to recover Rs. 600 crore from iron ore exporters for buying a staggering 57 lakh tonnes of ore from unlicensed dealers since 2003-04. According to sources in Hospet, the scam came to light when the Department of Mines and Geology tapped the offices of the Commercial Taxes Department and verified records. It was found...
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Bribery charge must now be investigated by Siddharth Varadarajan
The Embassy cable suggests a serious crime was committed on Indian soil to which U.S. diplomats were privy. The Prime Minister cannot cite lame arguments to justify inaction. Since politics is a distraction, consider the following retelling of the WikiLeaks tale. An activist dies in a traffic accident. CCTV footage from a bank nearby suggests he might have been murdered but the case is never investigated properly. Three years later,...
More »Devil In The Retail by Lola Nayar
By all indications, FDI in multi-brand retail is a fait accompli. Or so we have been told time and again by everyone, the PM downward. The “question is at what point of time it should be done”. This remark from Pranab Mukherjee in a post-budget TV interview may have revealed that the debate has moved beyond whether to permit FDI in multi-brand retailing—the lifeline of small- and medium-sized neighbourhood stores....
More »India’s Nuclear Neros by Praful Bidwai
The colossal hubris, ignorance and smugness of India’s nuclear czars take one’s breath away. The day Japan’s crisis took a decisive Turn for the worse, with an explosion in a third Fukushima reactor and fresh radiation leaks, Department of Atomic Energy (DAE) secretary Sreekumar Banerjee declared that the nuclear crisis “was purely a chemical reaction and not a nuclear emergency as described by some section(s) of media”. Nuclear Power Corporation...
More »How Pranab squared the deficit hole by AK Bhattacharya
Just reclassified Rs 1.46 lakh crore of spending as capital investment. Finance Minister Pranab Mukherjee’s Budget for 2011-12 seems to have used a new accounting system to make a virtue of necessity. Committed to provide funds to run the Mahatma Gandhi National Rural Employment Guarantee Scheme or MGNREGS, Mukherjee has transferred the entire financial allocation for the scheme under a head that will now help him take credit for a reduced effective...
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