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Ahead of Budget, PM Modi Promises More Reforms

-PTI   Pune: Ahead of the Budget, Prime Minister Narendra Modi on Saturday assured investors more reforms as he rolled out the red carpet to multinationals, inviting them to make use of the large pool of highly talented youth in the country. "I invite all those who want to participate in the economic development of the country to generate employment for our youth. Your (investors) growth is also linked to our growth," the...

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Reduce food security benefits from 67% to 40% population, says panel on restructuring FCI -Jitendra

-Down to Earth Shanta Kumar committee report recommends privatisation, outsourcing and cash benefit transfer to cut food procurement and distribution costs The high level committee set up to look into the restructuring of Food Corporation of India has recommended reducing the number of beneficiaries under the Food Security Act-from the current 67 per cent to 40 per cent. It has also recommended allowing private players to procure and store food grains, stopping...

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Govt's land law revives lost order of sarkar raj -Nitin Sethi

-Business Standard The ordinance has returned near absolute power of discretion in land acquisition, except in tribal areas, into the hands of the bureaucracy yet again Even after the National Democratic Alliance's land ordinance, governments will still need the consent of tribal gram sabhas in all Schedule V and VI areas of the country before acquiring land for themselves or for public-private projects. While the land ordinance has done away with the need...

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Free market model has failed: Kaushik Basu -Puja Mehra

-The Hindu "World Bank too has changed its goal to fighting no longer for just eradication of poverty but also for shared prosperity" There is now a consensus the world over that the free market economic model does not work, said World Bank chief economist and former Chief Economic Adviser to the government of India Kaushik Basu on Sunday. Dr. Basu was speaking at a function organised here by the ‘Ideas for...

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Labour law violations in Govt sector: number of inspection declines

-The Hindu Business Line   Cases of prosecutions over wages, contract workers, child labour are down  Among key initiatives of the Narendra Modi government has been the fast-tracking of labour law reforms to put an end to ‘inspector raj' and improving the country's rank in the World Bank's ease of ‘doing business' index. However, when it comes to checking labour law violations, the number of inspections in the Central sphere, which includes banks, railways,...

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