-Frontine Walmart’s disclosure that it spent huge amounts of money on lobbying in India and the allegation that it entered the retail sector through indirect means highlight the power of global capital in dictating the country’s policies. The world’s largest multi-brand retailer Walmart’s disclosure to the United States Senate that it had spent $25 million (Rs.135 crore) since 2008 on its various lobbying activities, which include enhancing access to the Indian...

-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...

-Economic and Political Weekly The recent debate on the acceptability of foreign direct investment in the retail sector in India has been mostly political. It is necessary to look into the pros and cons of FDI in retail from a purely economic point of view. This article identifi es the safeguards that should be undertaken before allowing giant multinationals to function in the country. Abhirup Sarkar (abhirup@isical.ac.in) is with the Indian Statistical...

-The Business Standard Why the hue and cry over Walmart? Many of India Inc's big ones are no strangers to lobbying in the US  There is a very fine line that separates lobbying from bribery, and there are diverse opinions on what kind of influential pressure on lawmakers qualifies as acceptable, and what doesn't. Quite clearly, bribery is illegal and unacceptable, there is nothing wrong in lobbying per se -- at least...

-Outlook The government has not made any assessment on presumptive losses following the CAG report on the 2G spectrum issue, Parliament was informed today. "No assessment of the value of presumptive loss caused to the nation after the publication of CAG report in 2G spectrum matter has been made by the Government of India," Minister of State for Finance Namo Narain Meena said in a written reply in the Rajya Sabha. To a...