The suggestion has been made in a note to the cabinet committee on UID project headed by Prime Minister Manmohan Singh The Planning Commission has recommended that the unique identity (UID) programme’s beneficiaries such as public sector banks, insurance companies, state governments and welfare programmes pay for the enrolment of people since the benefits to them will outstrip the costs incurred. The suggestion has been made in a note to the cabinet...

Finance secretary R S Gujral on Tuesday said the income tax department has started prosecution proceedings against all those found guilty of stashing black money abroad, including the Indians found having accounts in HSBC, Geneva.  Gujral said it was an entirely wrong notion that people found accused in black money cases would be left without prosecution. "We have started prosecution process and we are bound by no agreement not to do...

An unprecedented economic growth during the last decade has also seen increasing malnutrition, hunger and starvation amongst certain sections of society. India ranks 66 in the Food and Agriculture Organisation’s (FAO’s) World Hunger Index of 88 countries (Inter-national Food Policy Research Institute). More than 200 million people in this country are denied the right to food. One-third of all underweight children (57 million) in the world due to lack of...

Supreme Court displeased with Centre's failure to suggest measures   The Supreme Court has indicated that it may ask the Central government to set up special courts to try cases of damage done to public property in agitations. A Bench of Justices G.S. Singhvi and S.J. Mukhopadhaya on Tuesday expressed displeasure at the Centre for not coming out with suggestions to prevent damage to public property and said special courts would be directed...

Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...