Five audit firms of Price Waterhouse India have admitted to the US markets regulator, the Securities and Exchange Commission (SEC), that deficiencies in their auditing process were not restricted to Satyam Computer , but extended to other companies audited by them in India as well. This disclosure by PW India is in two documents released by the SEC on April 5 while concluding its findings on the Satyam accounting fraud case....
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Media support crusade against corruption
There can be little question that the news media, print as well as television, have contributed significantly to bringing the issue of corruption to political India's centre stage. The focus on the corruption of elections through ‘cash for votes' comes in tandem with the proactive intervention by the Election Commission of India during the April-May elections to State Assemblies. There can also be little doubt that the U.S. Embassy Cables,...
More »Mixed report card on NREGS by Alok Ray
The scheme has reduced rural migration and promoted financial inclusion, but needs to create more durable assets. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) – the only government social welfare scheme named after the other Gandhi, not belonging to Nehru-Gandhi family – has recently completed five years. The performance of the scheme, considered a major pillar of UPA government's strategy of inclusive growth, has been a matter of debate. The...
More »Dr Arvind Virmani, Affiliate Professor (& Distinguished Senior Fellow), George Mason University (School of Public Policy-CEMP), and Executive Director, IMF interviewed by TCA Srinivasa-Raghavan
Given a positive regulatory environment, banks and other financial intermediaries will certainly be interested in using the smart card opportunity. Dr Arvind Virmani, with a Ph.D. from Harvard and 30 years of professional experience, is one of the most valued economists in the Government. Before he retired as Chief Economic Advisor in 2009, he had served in the Finance Ministry and the Planning Commission. A researcher par excellence, his research papers...
More »Oppressor's case by TK Rajalakshmi
Women's organisations rise up against a petition that seeks an amendment to Section 498A of the Indian Penal Code. A PETITION that alleges the misuse of Section 498A of the Indian Penal Code, which has been admitted by the Rajya Sabha Committee on Petitions, has become an object of concern among leading women's organisations in the country. The petition claims that the law, dealing with dowry-related torture and acute domestic...
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