I have not read the Private Member's Bill on media regulation that Meenakshi Natarajan was scheduled to move in Parliament last week so I am not in a position to comment upon it, but I am certainly of the opinion that the media (both print and electronic) needs to be regulated. Since my ideas on this issue have generated some controversy they need to be clarified. I want regulation of the...

Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.  All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange...

Difficult times call for difficult measures. Pushed into a corner by an unsustainable fiscal deficit and various sectors and programs (including the proposed food security legislation) screaming for a greater share of the budget pie, the Congress-led United Progressive Alliance (UPA) government in India has been forced to do what it might not have otherwise—reduce its marquee job guarantee scheme’s allocation in a big way for the first time.  In one...

The government is thinking of letting the states cherry pick the central schemes for rural welfare, a step back from centralized decision-making that it hopes could help quell the accusations that Centre was weakening the federal structure. The idea behind the 'flexifund route' is to allow states the freedom to decide rural development schemes they want to implement and how much of allocation should each get. It would mark a departure...

-The Economic Times   On Saturday, Bengal chief minister Mamata Banerjee told New Delhi that it had 15 days to announce a debt-relief package for the state. She did not specify what would happen after the deadline, but said that her patience was wearing thin.  The Centre cannot give in to such blackmail. Banerjee doesn't have to bother about the huge risk that this demand creates. The Centre has few powers to write...