-The Times of India NEW DELHI: National Aeronautics and Space Administration (Nasa) images of the past ten days show large parts of India are dotted with fires, stretching across Uttar Pradesh (UP), Madhya Pradesh (MP), Maharashtra, Chhattisgarh and even some Southern states. In sweltering summer, these fires are intensifying heat and causing black carbon (a component of soot with high global warming effect) pollution. Some of these dots may be forest fires...
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Taxmen begin raids on hoarders of cash as Centre, RBI pump in notes -Sidhartha
-The Times of India NEW DELHI: Tax authorities have conducted 30-35 raids in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. In Bihar, for instance, Rs 800-900 crore has been pumped in through the ATM network with initial assessments suggesting that the shortage may...
More »Big-note hoarding habit contagious
-The Telegraph Mumbai: Research by the State Bank of India suggests currency notes of higher denominations, especially Rs 2000 notes, are "not getting adequately circulated in the economy" and the tendency to hoard cash may be having a domino effect. An SBI research report tries to provide a theoretical basis for the sudden evaporation of cash in some states by linking the phenomenon to the sharp decline in "income velocity" in the...
More »Mandate and allocations -M Govinda Rao
-The Hindu The terms of reference of the 15th Finance Commission raise questions about constitutional propriety It is not without reason that the presidential terms of reference (ToR) of the Fifteenth Finance Commission have raised questions, and the recent conclave of Finance Ministers of the Southern states to discuss contentious issues in the ToR is only the beginning. In the months ahead more debate on this is likely. But the line by...
More »Why South India states are objecting to Finance Commission's mandate -Ajai Sreevatsan
-Livemint.com Use of population figures from 2011 census instead of 1971 census for sharing tax revenue among states triggers opposition from South India New Delhi: A political storm is brewing in South India over what is normally a largely unnoticed bureaucratic exercise undertaken once in five years to determine how India distributes its pooled tax revenues among its many states. Several chief ministers and opposition leaders of Southern states have expressed vehement opposition...
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