-The Telegraph The finance and law ministries have locked horns over who will lead the battle against black money. A meeting of a finance ministry probe team under the chairman of the Central Board of Direct Taxes (CBDT) has been put off indefinitely following a Supreme Court order to set up a special investigative team (SIT), headed by former apex court judge B.P. Jeevan Reddy, to probe illicit funds. While the panel...
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The new land acquisition law must seek to reduce market distortions and segmentation by Bibek Debroy
Land is contentious. With urbanisation and demand for non-agricultural use, coupled with lack of employment and skills for those in small-holder and subsistence-level agriculture, this is understandable. In western Europe, especially in Britain, and more especially in England, land markets were freed up before the Industrial Revolution and access to education and skills became more broad-based. We haven't introduced reforms that enable people to move out of agriculture, or diversify...
More »Mining firms worried over documents by Muralidhara Khajane
Mining companies and political leaders in the State allegedly involved in illegal mining are growing anxious. Not only is the Lokayukta's final report to be submitted soon, but they are also worried about certain sealed documents submitted by the Central Empowered Committee (CEC) to the Forest Bench of the Supreme Court. Samaj Parivartana Samudaya (SPS) (an organisation of the National Committee for Protection of Natural Resources (NCPNR)), which has filed a...
More »Experts oppose move for draconian tax law by Surojit Gupta
The government's move to make tax evasion a criminal offence has drawn strong criticism from former policymakers and commentators, who say if such a move is implemented it will hurt economic activity, undo years of tax reforms and increase harassment. A panel headed by Central Board of Direct Taxes chairman Prakash Chandra, which held its first meeting on Thursday, will examine the proposal. The proposal appears to have been made because...
More »The black money monster
-The Times of India The high drama over Baba Ramdev's midnight eviction and action against the peaceful gathering has shifted the focus away from the central is sue raised by the Baba – black money overseas – to the right to protest in a democracy. This being the case, there is danger of an uninformed debate on black money taking over, guided more by emotions and populist talk rather than...
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