The government may make mandatory the disclosure of high-value purchases such as property and jewellery. Stung by growing public outrage over corruption, finance minister Pranab Mukherjee will on Monday spell out steps taken and planned to curb proliferation of black money. There are no clear estimates of the size of India’s black economy but the amount is pegged between $462 billion (Rs.22 lakh crore) and $1.4 trillion (Rs.77 lakh crore). Mukherjee...

The Parliament of India, the highest citadel of its democracy, recently completed 60 years. This magnificent circular edifice was inaugurated on January 18, 1927, by the then governor-general, Lord Irwin, and legislative councils had conducted its sessions here. After Independence, the Central Hall accommodated the Constituent Assembly till it completed writing the Constitution. The first Lok Sabha was constituted on April 17, 1952, and the first Rajya Sabha on April...

-The Economic Times, The Cabinet has cleared a proposed Bill empowering the Reserve Bank of India (RBI) to regulate all microfinance institutions (MFIs). A central legislation makes sense only to the extent that it over-rides draconian state-level laws. However, the Bill suffers from many infirmities. And it is unfortunate that these have been overlooked. The law, if enacted, is likely to kill small MFIs and hurt the sector that is struggling...

Bowing to pressure from women's activists, the government has made some crucial amendments to divorce laws, giving women half a share in the husband's residential property irrespective of whether it was acquired before or during the marriage. The amendment was cleared by the Union Cabinet on Thursday. The wife's share in other assets owned by her husband - movable and immoveable property - has been left to the discretion of the...

The colonial government took a liberal view of the merciless lampooning that it received at the hands of cartoonists in the Indian press A cartoon is a written expression of the comic impulse, and the cartoonist is an artisan of nib and brush who puts down complex processes of reason and argument in drawings and pictures. His impact is that readers sit up, smile, frown, or simply laugh. In short, cartoons...