The dreaded El Niño weather phenomenon is set to appear during the second half of the southwest monsoon, which may cause less-than-expected rains in August and September. El Niño had earlier hit the Indian monsoon in 2009, when the country faced a severe drought. This time, its impact is not clear as of now, but if there are excessive breaks in the monsoon, crops of paddy, oilseeds and pulses could...

-The Times of India The government's white paper on black money, tabled in Parliament on Monday, listed a one-time tax amnesty to recover funds stashed abroad and a gold deposit scheme for locals as possible ways to deal with the menace, while suggesting that individuals get the tax department's go-ahead for all property deals and face undue scrutiny on cash in their possession. It also called for setting up of independent regulators,...

The government may make mandatory the disclosure of high-value purchases such as property and jewellery. Stung by growing public outrage over corruption, finance minister Pranab Mukherjee will on Monday spell out steps taken and planned to curb proliferation of black money. There are no clear estimates of the size of India’s black economy but the amount is pegged between $462 billion (Rs.22 lakh crore) and $1.4 trillion (Rs.77 lakh crore). Mukherjee...

-The Business Standard The Odisha government expects to send the comprehensive document for the 12th Plan (2012-17) to the Centre by the end of June this year. Ahead of submission of the document to the Centre, the department of planning & coordination has urged all administrative departments to submit their respective reports for compilation of the 12th Plan, listing their priorities and thrust areas, by May 31. “We will be submitting the 12th...

The grand old  man of Indian cartooning RK Laxman has a delightful anecdote that embodies the charm of  political cartooning. Soon after the 1962 Sino-Indian war, Laxman lampooned Prime Minister Jawaharlal Nehru and his much-maligned defence minister Krishna Menon. That evening, Laxman got a call from the prime minister’s office. Picking up the phone, he was petrified of being at the receiving end of Nehru’s ire. He need not have...