Some Dalit businessmen plan to launch a Rs 500 crore venture capital fund — India’s first community-focused fund. The Central government’s new procurement policy will open business opportunities worth Rs 7,000 crore for Dalit and s (ST) entrepreneurs. These entrepreneurs are now gearing up to tap this opportunity by launching their own venture capital fund and increasing their production capacities. The proposed Rs 500 crore venture capital fund will be the country’s...
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A pill to cure all ill? by Nripendra Misra
One hopes that the hotly contested Lokpal Bill will reach its final denouement during the winter session of Parliament. In fact, the debate on corruption in Parliament and media has focused on the single demand for the establishment of an omnipotent institution of the lokpal with its powers of enforcing the citizen’s charter, establishing state-level lokayuktas and encompassing the bureaucracy from a peon to head of the department. It has...
More »As losses mount, Areva goes in for huge job cuts by Vaiju Naravane
French nuclear giant Areva, which is planning to sell India six masssive1650 MWe EPR nuclear reactors for the Jaitapur site in Maharashtra, is facing serious financial difficulties with net losses in 2011 placed at well over €1 billion. Areva's CEO, Luc Oursel, announced drastic job cutbacks and the sale of over €2 billion worth of Assets, essentially in the company's uranium mines sector, to offset these losses. Trading in the company's...
More »Farms hit, freeze NREG for 3 months/yr: Pawar to PM by Ravish Tiwari
In the first high-level red-flag against the UPA government’s flagship Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), Agriculture Minister Sharad Pawar has told Prime Minister Manmohan Singh that while Assets created under the NREGA “may or may not have productive use”, the programme was “adversely” impacting the agriculture sector by “drawing out agriculture labourers from agricultural operations”. In a letter sent to the prime minister late last month, Pawar is...
More »Assets worth Rs 4.5 cr found at peon's house
-The Hindustan Times Lokayukta sleuths raided the residence of a Class IV employee of the Ujjain Municipal Corporation on Wednesday and found documents showing Assets worth Rs 4.5 crore. According to the documents Narendra Deshmukh, a 53-year-old peon-cum-storekeeper, owns two houses, a poultry farm, a chicken shop, five acres of land in Maharashtra’s Jalgaon district, partnership in a 10-room hotel in Mumbai, two sport utility vehicles (SUVs) worth more than Rs 16...
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