-The Economic Times Finance minister Pranab Mukherjee has said he had directed three institutions - NIPFP, NIFM and NCAER - to come out with a defendable assessment of the quantum of black money stashed away by Indians in foreign banks. Replying to the discussion on the adjournment motion moved in the House by BJP veteran LK Advani on "the situation arising out black money deposited illegally in foreign banks", Mukherjee declared...
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Centre to set up Rs. 1,000-crore fund to promote housing for poor by P Sunderarajan
It will provide credit risk guarantee to banks on the loans Prime Minister Manmohan Singh on Tuesday announced that the Centre was considering setting up a credit risk guarantee fund with a corpus of Rs. 1,000 crore, to start with, to encourage banks to lend to the poor for housing. Emphasising that developing housing for the poor was critical for sustainable urban development, he said: “To encourage banks to lend in significant...
More »The Challenge of Inequality by Anil Padmanabhan
What is common between Brazil, Russia, India and China? That’s easy. They are the so-called BRIC countries. But, what is common between these BRIC countries and other emerging economies such as Indonesia, Argentina and South Africa? The answer: inequality. This disconcerting connect between these emerging economies is the focus of a report released last week by the Organization for Economic Cooperation and Development (OECD), the think tank for the club of...
More »Supreme Court: the balancing act by Nikhil Kanekal
Despite criticism of the appointment process, and pendency , the Supreme Court appears to enjoy public confidence like no other institution As the Supreme Court of India approaches its final week of hearings for the year, a look back shows it has dominated the national consciousness by ruling on myriad issues. The court was conceived by the framers of the constitution to deal mainly with fundamental questions of law. But India’s top...
More »Markers and Supermarkets by Sukanta Chaudhuri
Some time ago, newspapers in Britain carried full-page advertisements from the curiously named British Pig Association. This consortium of pig farmers was clamouring publicly that the supermarket chains were squeezing the farmers dry. Alongside them, Britain’s dairy farmers complained that a supermarket cartel was paring down their prices, while production costs went up and up. These farmers too have powerful lobbies; they are still in business. To this end, Britain, like...
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