Manmohan Singh today refused to yield to pressure on the question of allowing foreign direct investment in retail and appeared ready for a protracted battle, including the risk of a vote in Parliament despite his government’s fragile majority. Somewhat reminiscent of his nuclear deal stand, the Prime Minister confronted those who had accused the government of taking a hasty decision on retail. “We have not taken this decision in haste, but after...
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FDI row: Desperate finance minister, helpless party by Sheela Bhatt
Finance Minister Pranab Mukherjee may be right in pushing for FDI in retail because reports have been pouring in, indicating that the economic downturn in India and abroad will worsen in coming weeks. 'I want money,' an agitated Finance Minister Pranab Mukherjee reportedly told the Cabinet on Thursday, November 24, when coerced by colleagues from his Congress party for pushing 51 per cent Foreign Direct Investment in retail. The FDI issue is...
More »Advertisers oppose broadcasters' TRP proposal by Viveat Susan Pinto
In a face-off between advertisers and news broadcasters over the issue of the periodicity of reporting television rating points, the former has opposed the broadcasters’ proposal to have TRPs of shows move from a weekly to a monthly format. The News Broadcasters Association (NBA) last week had issued a letter to TAM, the body that measures television viewership in India, asking it to consider the option of reporting TRPs of programmes...
More »Difficult problem, difficult solutions by Ritu Kant Ojha
This is a unique situation. For governments, development authorities, lenders and borrowers alike. On Wednesday, a Supreme Court (SC) Bench headed by Justice GS Singhvi upheld a verdict of the Allahabad High Court that quashed acquisition of 176 hectares of land from farmers in Greater Noida stating that the authorities were “sub-serving” private builders in the name of public interest. Land purchased from the government was always considered ‘clean’. This verdict,...
More »Food inflation is no mystery by Soma Banerjee
If you thought only onion made headlines and governments fall, here is some more food for thought. The retail prices of brinjal soared 110% and those of tomato by 125% between the first weeks of November 2010 and January 2011, while the rise in crude oil paled in comparison, climbing about 12% in the same period. While import-dependent economies are struggling to keep their fiscal math in shape with crude...
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