Finance Minister Pranab Mukherjee on Thursday moved a motion in the Lok Sabha for the appointment of a 30-member Joint Parliamentary Committee to go into the 2G spectrum issue. The 20 members from the Lower House who would be in the JPC were named. The names of the remaining 10 who would represent the Upper House would be announced on March 1, when the House officially joins the JPC. The JPC...
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Govt blinks again, to set up 30-member JPC
The government will announce a 30-member joint parliamentary panel with terms of reference expected to cover the period of the execution of the first-come, first-served policy for telecom licences including the opposition NDA's term in office. The committee is expected to submit a report in six months but sources were doubtful if this might be sufficient. The announcement on the JPC, its membership and terms is to be made on Thursday...
More »Govt bites the bullet on subsidies by Sanjiv Shankaran
In a reformist move long recommended by various economists and panels, the government has set up a task force to create a way to directly transfer cash to the ultimate beneficiaries of various subsidy schemes, which are, at best, messy and, at worst, ineffective. The task force will be headed by Nandan Nilekani, chairman of the Unique Identification Authority of India. A pilot will be rolled out in the next four...
More »Neoliberal illogic by Prabhat Patnaik
The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....
More »Black money amnesty plan
The Centre may announce a tax amnesty scheme to bring back black money stashed in banks abroad, finance minister Pranab Mukherjee hinted today. He declined to share the names of those who have black money in foreign banks “as it violates international law”. By one estimate, anything between $450 billion and $1.5 trillion is in these accounts. Mukherjee’s news conference was called today at the behest of Prime Minister Manmohan Singh who...
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