The office of the assistant stamp commissioner here today found Team Anna member Shanti Bhushan guilty of evading stamp duty in purchase of a bungalow in Allahabad’s posh Civil Lines, slapping him with a Rs 27 lakh fine and asking him to deposit Rs 1.32 crore in duty along with interest. Bhushan has been asked to pay the entire amount within a month. Bhushan said the order was “illegal”, and the stamp...
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The glory and the blemishes of the Indian news media by Amartya Sen
One of the great achievements of India is our free and vibrant press. This is an accomplishment of direct relevance to the working of democracy. Authoritarianism flourishes not only by stifling opposition, but also by systematically suppressing information. The survival and flowering of Indian democracy owes a great deal to the freedom and vigour of our press. There are so many occasions when, sitting even in Europe or in America,...
More »Rural women turn bankers by Gagandeep Kaur
Neglected by conventional banks, low-income women in Satara have set one up themselves. Not long after Chetna Gala Sinha came to the drought-stricken region of Mhaswad in western Maharashtra to marry a farmer and prominent local social activist, she began putting her university degree in finance into action. Local women, she observed, were wearing themselves out in subsistence livelihood such as growing grapes or selling vegetables. In 1992, Chetna, who grew up...
More »Storage bound farmers to get cheaper crop loan by Dheeraj Tiwari
The Finance Ministry has launched a concessional loan scheme for farmers to prevent distress sale of agricultural produce. Farmers who park their produce at warehouses will be able to avail short-term post harvest loan at 7% as against the prevailing rate of 11%-12%. Farmers making timely payment of the loans will further enjoy 3% interest subvention, bringing the real interest rate to 4%, according to the finance ministry directive. This will benefit...
More »Strong revival by Anindita Adhikari
In Jharkhand, an assertive populace is making sure that the dealers do not hijack the PDS. UNTIL a few years ago, the public distribution system (PDS) in Jharkhand appeared broken and beyond repair. The National Sample Survey data for 2004-05 suggest that more than 80 per cent of the PDS grain was sold in the open market at that time. A field survey in Ranchi and Dumka districts from June...
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