-The Economic Times   The increase in India's food subsidy bill after the introduction of the Food Security Act, which will guarantee subsidised grains to a large section of population, could damage the country's financial health, agriculture minister Sharad Pawar said here on Wednesday.  The situation is worrying even now, the minister said at the Economic Editors Conference here. "The issue price of grains for ration shops has not been changed for last...

The Serious Fraud Investigation Office (SFIO) will have powers to investigate and prosecute corporate entities under the Companies Bill, 2011, expected to be cleared by the Union Cabinet before Diwali.  The bill also envisages rotation of company auditors for higher accountability, corporate social responsibility, a more effective regulation of related party transactions and stricter provisions to prevent siphoning of funds through subsidiary and associate companies.  The government expects the bill to modernise,...

IT IS one of the inspirational legends of Indian journalism that James Hickey, founder and editor of the Bengal Gazette — this country’s first newspaper, with its first edition going back to January 1780 — was a fearless seeker of the truth, taken to court and imprisoned by Warren Hastings, then governor-general. Reality is a little different. Hickey’s paper was often a gossipy, yellow rag. It thought nothing of publishing scurrilous...

-The Hindu   The Group of Ministers (GoM) meant to consider measures to tackle corruption has directed the Ministry of Law to formulate concrete proposals on Constitutional and statutory amendments needed to consider feasibility of State funding of elections. The GoM headed by Union Finance Minister Pranab Mukherjee is mandated to look at a range of policy initiatives and action required to address corruption. In its first report in September, the GoM had...

The Union government is inclined to examine specific requirements of States individually while implementing the proposed legislation on food security. When it was brought to his attention that crores of people in the State would be left out of the Public Distribution System as the ceiling for coverage of urban population stipulated in the draft National Food Security Bill was 50 per cent and the provisional figures of Census 2011 pointed...