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Food Security Bill to partly hurt ongoing recovery; 1QFY14 earnings in focus

-The Economic Times MUMBAI: The Union Cabinet this week passed an ordinance to implement the National Food Security Bill (NFSB). The bill guarantees legal entitlement of food grains at a subsidised price to ~67 per cent of India's population. The ordinance will come into effect immediately once it is signed by the President. But it also needs to be approved by both the houses of Parliament in the monsoon session within six...

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A food security ordinance that will stimulate food inflation is passing strange

-The Times of India The Parliament's monsoon session is only about a month away. That the Union cabinet has yet taken the ordinance route to implement the national food security Bill signals the scam-tainted UPA government's desperation to woo voters before the next general elections. But the hope that expanding what is already one of the world's largest food security programmes will boost political fortunes is hallucinatory. The exchequer is already...

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New strategies needed as rapid urbanization threatens sustainable development - UN report

-The United Nations Without fresh ideas to address rapid urbanization, the number of people living in slums lacking access to basic infrastructure and services such as sanitation, electricity, and health care may skyrocket from one billion at present to three billion by 2050, the United Nations today reported. That wake up call is one of several alarm bells sounded in the UN World Economic and Social Survey 2013, which was launched today...

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The Bhaiya Express to misery-Badri Narayan

-The Hindu Indentured labour may be a forgotten part of our colonial economic history but Bihar and eastern Uttar Pradesh are still sending ‘Girmitya' to toil in distant lands The descendants of indentured labourers, who migrated from eastern Uttar Pradesh and Bihar to erstwhile colonies, recently met at The Hague in the Netherlands to commemorate 140 years of migration - perpetuated through a system popularly known as ‘Girmit.' They gathered from all...

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Bribery probe against Walmart inconclusive, but no clean chit to US retailer -Anandita Singh Mankotia

-The Economic Times NEW DELHI: Terming some of the answers provided by Walmart as "incomprehensible" and parts of the deposition by its just departed India boss Raj Jain as "ambiguous", a government committee set up to look into whether the US behemoth indulged in bribery in India, has refused to give it a clean chit, complicating its efforts to draw a line under the episode. The one-man committee under Justice Mukul Mudgal...

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