In planning, pursuit of profit was not seen as being in the social interest in the post-Independence years, but now profit is the sole motive. FOR two decades now the Government of India has pursued a policy of accelerated liberalisation, dismantling controls, diluting regulations and making the state a facilitator of private investment. It is not that the presence of the state has diminished during this period, but that its role...

-The Hindu   ‘The mechanism for compensating the affected people is not clearly defined and has many limitations' Industry chambers led by Confederation of Indian Industry (CII) and FICCI on Friday sought a review of the Mines and Minerals (Development and Regulation) Bill, 2011 approved by the Union Cabinet stating that the industry was concerned on royalty, profit sharing and the methodology of providing assistance to project-affected persons. In a statement here, Rana Som,...

-The Times of India   The Anna Hazare-led civil society movement cannot be faulted for having come up with its version of the Lokpal Bill, because otherwise it would have been accused of campaigning for something essentially negative - the withdrawal of the flawed government version without putting forward an alternative. Frustration with everyday corruption - as well as the spectacular kind that explodes in the public sphere ever so often (...

-The Times of India   Team Anna on Thursday began burning copies of the government's version of the Lokpal Bill that was tabled in Parliament today. Team Anna said the symbolic protest would continue till August 16 when Gandhian Anna Hazare will go on fast to protest the exclusion of several recommendations made by civil society members on the bill. The proposed legislation introduced in the Lok Sabha doesn't cover the Prime Minister...

-PTI   The Institute of Chartered Accountants of India (ICAI) today said it would submit its report to the government in September, suggesting changes required in the key economic Acts such as Income Tax and FEMA to tackle the menace of black money and ways of retrieving it from tax havens abroad. ICAI had said earlier this month that the report was expected in August. A committee, headed by ICAI President G Ramaswamy, is...