-The Economist   The world’s population will reach 7 billion at the end of October. Don’t panic IN 1950 the whole population of the earth—2.5 billion—could have squeezed, shoulder to shoulder, onto the Isle of Wight, a 381-square-kilometre rock off southern England. By 1968 John Brunner, a British novelist, observed that the earth’s people—by then 3.5 billion—would have required the Isle of Man, 572 square kilometres in the Irish Sea, for its standing...

-PTI   Team Anna member Arvid Kejriwal has been slapped with a fresh notice by the Income Tax Department, asking the former IRS officer to pay over Rs nine lakh in dues by this month-end.  Earlier, the Office of the Chief Commissioner of Income Tax (CCIT) had on August five issued a notice to him in the case.  Sources said a fresh notice has been issued to Kejriwal, who, the department claimed, had violated...

India on Saturday managed to get backing of the world’s 19 most powerful economies on the issue of sharing tax information, as the G20’s draft communiqué for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens. The draft communiqué, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address...

-The Times of India   The Mines and Minerals (Development & Regulation) Bill, cleared by the cabinet last week, signals that the government`s heart is in the right place. Under its provisions, coal firms must share 26% of their net profits with project area residents, while non-coal miners will have to provide them a sum equal to royalty paid to state governments. No system is in place at present to properly compensate...

Investigating and law enforcement agencies are concerned over the growing number of attempts to misuse Right to Information (RTI) to settle personal scores and animosities, and make personal gains. A senior official from one of the investigating agencies told Business Standard that serious concerns were raised in several meetings convened by the government with the Income Tax Department, the Central Bureau of Investigation (CBI) and others in the recent past. “It has...