Having had to face a series of farmers' protest and flak from Opposition parties over the acquisition of land for development and expressway projects in Uttar Pradesh, Chief Minister Mayawati has announced that all future land transactions will be clinched directly between the farmers and the private developers by adopting a “consensual approach.” “The role of the government now would be that of a facilitator only, limited to issuing a notification...

India is today the world's largest importer of arms. These include fighter jet planes, missiles and radar systems for strategic partnerships and geo-political power. India is also investing in security and surveillance to combat foreign threats and resistance from its own people in places like the Kashmir valley, and the North East and tribal regions of Central India. This provides tremendous opportunity for multi-national corporations to sell and invest in...

Former Chief Justic of India KG Balakrishnan does a U-turn on disclosing his assets. Justic Balakrishnan has informed the Inecome Tax Department that he does not want to disclose his assets because it is not related to public welfare in any way.   Under intense pressure, former CJI and the current NHRC chief had early this month agreed to publicise details of his assets. The ex-CJI has faced allegations that he has wealth that...

All real estate transactions will have to be reported to the country's anti- moneylaundering agency once the government amends a key law that seeks to curb black-money transactions. The government plans to amend the Prevention of Money Laundering Act , which will require property registrars to file data of transactions recorded by them with the Financial Intelligence Unit, or FIU, a finance ministry official said. "The scope of the (Prevention...

The Indian government is exploring a proposal to reduce the limit on foreign direct investment (FDI) allowed in the pharmaceutical industry through the automatic route to 49% from 100% amid concerns over the takeover of local drug makers by overseas firms. Officials from the ministry of commerce and industry and the ministry of health have had multiple rounds of discussions on the proposal following a note written to them by the finance...