The chamber said concrete steps need to be taken to promote investment, given that recent data shows the investment growth rate slowed from 38.1% in 2007-08 to 36.5% in 2009-10 The Confederation of Indian Industry (CII) on Tuesday called for the government to provide tax incentives on agricultural activities in the forthcoming Budget to encourage private participation and adoption of new technologies in the sector. “CII has recommended encouraging private sector participation...

Indian Home Minister Palaniappan Chidambaram is the nation's domestic security chief, overseeing a broad portfolio that includes battling a homegrown Maoist insurgency and routing out terrorists. The 65-year-old, a veteran of the ruling Congress Party who previously held senior economic posts and played a key role in the country's post-1991 liberalization, is considered a future contender for the post of prime minister. Recently, he spoke to The Wall Street Journal. Here...

The Supreme Court today hauled up the government for including soft drink industry representatives on food standard panels intended to act on complaints against them and asked it to immediately reconstitute the committees with independent experts. The top court has since 2004 been hearing a PIL filed by the NGO CPIL, which demanded that soft drink companies reveal the contents of their products, including pesticide and chemical contents, if any. In 2006,...

The Supreme Court on Tuesday slammed the Food Safety and Standards Authority (FSSA) for constituting a panel of scientific experts in violation of the Food Safety Act, 2006, which mandates independent experts from the field to be part of this body. It struck down the panel as it housed representatives of various companies involved in the manufacturing of beverages and food products and directed FSSA to resconstitute it within two weeks. The...

Regulation in India's microfinance sector aims to address feckless borrowing and reckless lending – but will the new restrictions entrench poverty, rather than end it? One of the many crushing burdens for India's poor bear is debt; unable to make ends meet, they turn to traditional moneylenders. They are willing to extend credit, but at unconscionably high rates – sometimes exceeding 80%, and keeping borrowers in lifelong penury. Popular cinema and...