Satyam Computer Services and its former auditor PricewaterCoopers (PwC) have agreed to pay a combined $17.5m (£10.7m) in fines in the US after one of India's biggest corporate scandals. Satyam, an outsourcing company, will pay $10m for falsely reporting more than $1bn in profits over five years. The company's chairman Ramalinga Raju admitted to the fraud in 2009. Satyam's shares were indirectly traded on the New York Stock Exchange (NYSE) as well as...
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MGNREGS suffers from lacunae: Report by Asha Krishnaswamy
An evaluation of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the State has found several shortcomings in the implementation including corruption, inefficiency and lack of awareness about the programme. The draft of the evaluation, conducted by two researchers of the National Institute for Advanced Studies (NIAS) has found that while the rules stipulate that each worker entitled to get 100 days of employment under the scheme should have...
More »Hanhat farmers reap benefits of MGNREGA by Uttam Mukherjee
At a time when there are reports of gross irregularities committed in the implementation of schemes under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in the state, a success of the scheme has drawn the attention of many. With the district experiencing scanty rainfall for the last three years, farmers at Hanhat panchayat of Kairo block were hardly getting any paddy to fulfil their annual requirement. But a MGNREGA...
More »CAG's agri report slams MP govt by Shashikant Trivedi
The Comptroller and Auditor General (CAG) of India has cornered the state government, which had recently demanded a special package of Rs 2,500 crore for frost-hit farmers, in its report tabled in state Assembly today. The CAG has found gross irregularities, non-implementation of schemes, weak budgetary and expenditure controls in both original and supplementary budgets, rush of expenditure at the close of the financial year and underutilisation of central assistance. “The targets...
More »Balakrishnan declares assets worth Rs 76.65 lakh
CPM Politburo member and Kerala Home Minister Kodiyeri Balakrishnan has assets worth Rs 76.65 lakh, according to the affidavit filed by him on Thursday as part of his election nomination papers for the April 13 assembly polls in the state. Balakrishnan, who filed his nomination from Thalassery assembly constituency in Kannur district, declared that he has Rs 36.20 lakh worth assets and his wife Rs 40.45 lakh. He said that he has...
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