Corporate donations to political parties, a long-standing lightning rod for criticism for the implicit conflicts of interest in a controlled economy, will come under greater scrutiny when a new Companies Bill, expected to be passed in the winter session of Parliament, gains the force of law. Provisions enforcing greater transparency and disclosure norms on such donations will be part of the upcoming bill, which is currently being studied by a...

Russia is the world's second largest producer of barley after the EU and the cereal crop is used by many farmers as animal feed. Shoppers could see the cost of the meat and poultry in their baskets rise as the price of barley has more than doubled over the past six weeks due to continued fears over the drought affecting Russia and Ukraine. Russia is the world's second largest producer of barley...

According to a new Oxford University study, 55 percent of India’s population of 1.1 billion, or 645 million people, are living in poverty. Using a newly-developed index, the study found that about one-third of the world’s poor live in India. The Multidimensional Poverty Index (MPI) has been developed by the Oxford Poverty and Human Development Initiative and the United Nations Development Program (UNDP) as a more precise and comprehensive means of...

There's not much you can buy in terms of assets for Rs 1 lakh. But two Delhi businessmen gained access to a multi-crore iron ore mine in Chhattisgarh for just this much. On June 2, 2004, two brothers, Atul Jain and Sanjay Jain, pooled together Rs 1 lakh in Delhi to set up a company, Pushp Steel and Mines Ltd. The same day, the company applied for a prospecting licence...

The Chhattisgarh government has opposed a new mining legislation, which stipulates licence allocation on a first-come-first-serve basis, stating that it is “dangerous for tribals” and would lead to loss of revenue for the State. Chhattisgarh Chief Minister Raman Singh, who participated in the meeting of the National Development Council last week, said he has raised the issue with Prime Minister Manmohan Singh as well. “We have opposed the new mining legislation and...