Farmers will not have to cough up any tax upfront on the compensation money they receive for their land acquired by the government. The rural development ministry has clarified after complaints that in absence of clear rules the harshest provisions were being imposed. "We have issued orders that all compensation money for agricultural land acquisitions in both urban and rural areas should be made without any deductions," said an official in...

-The Times of India   The finance ministry is devising a voluntary tax disclosure scheme that could provide amnesty to people who have stashed unaccounted money in tax havens and other jurisdictions abroad by charging them a "levy". Finance minister Pranab Mukherjee, after a meeting with industry captains recently, activated a committee on black money set up last year to work out a scheme on voluntary disclosure. This scheme will allow corporates and...

The famine in the Horn of Africa is being seen as an inevitable consequence of drought, "the worst for 60 years". But this famine was almost entirely preventable, and presenting it as a natural disaster doesn't help; nor does our insistence on waiting for a major crisis before responding. Even though lessons about how to prevent famines have been documented time and time again, we don't learn. The conflict in Somalia...

*Rs 19,000 to Atria Hotel for ‘Nithin Gadkari sir friends’ on August 31, 2010. *Rs 44,000 for a money counting machine on September 9, 2010. *Rs 10,000 for the wedding of a journalist’s son. *Footwear for G Janardhan Reddy’s son. As the CBI pursues former Karnataka minister G Janardhan Reddy and his illegal mining activities, details emerging from the computers and diaries of close associates of the mining baron are providing investigating agencies a...

-The Hindu Business Line   The uncertainty over adopting agricultural biotechnology is in no one's interest, given the high food inflation and dependence on imports. With food inflation climbing once again above 10 per cent, it has become even more urgent for the government to provide a a clear mandate in terms of policy support, the technology options and requisite investment for domestic agriculture. Output growth, especially of proteins, has been decisively trailing...