A working group on agriculture constituted by Prime Minister Manmohan Singh has suggested that the government provide farm loans to farmers at four per cent interest rate, raise the minimum support price (MSP) for farm produce to 50 per cent higher than the actual cost of cultivation and expand diesel subsidy scheme across the country.The Working Group on Agriculture Production headed by Haryana Chief Minister Bhupinder Singh Hooda submitted its...
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NDTV juggles funds, shares abroad, avoids tax by Joyeeta Basu
NDTV, through its foreign subsidiaries, is suspected to be indulging in gross violations of Indian tax and corporate laws. NDTV Network Plc, UK was set up in November 2006. Its balance sheets were not filed in India. This company has raised and invested huge sums of money in its subsidiaries, NDTV Imagine (now sold), NDTV Lifestyle, NDTV Labs, NDTV Convergence and NGEN Media Services. The main activity of the company...
More »Pawar bats against CBI probe overdose
Agriculture minister Sharad Pawar today said the government should take note of Ratan Tata’s statement that India risked turning into a “banana republic” and cautioned against the excessive use of the CBI. Pawar’s statement came in the middle of a CBI crackdown on an alleged bribes-for-loans scandal involving several top financial officials and real estate players in Maharashtra. Another real estate project, which was once associated with Pawar’s relatives, has been...
More »Bribe scam unearthed; top LIC, bank officials held by Vinaya Deshpande
The Economic Offences Wing of the Central Bureau of Investigation has unearthed a multimillion-rupee bribery scam and arrested top officials of public sector banks and financial institutions, including the Chief Executive Officer of the Life Insurance Corporation Housing Finance Limited. On Tuesday, the CBI conducted raids in Mumbai, Delhi, Chennai, Jaipur, Kolkata and Jalandhar and seized some documents. “Five separate cases have been registered,” Joint Director P. Kandaswamy told a press...
More »New loan sharks by S Nagesh Kumar
The rural poor in Andhra Pradesh, a State showcased as a model for SHG-bank linkage, are caught in the vortex of microfinance. WITHIN a decade of their coming into operation, microfinance institutions (MFIs) have dealt a serious blow to the economy and the well-being of thousands of families in rural Andhra Pradesh. Harassment by their collection agents has allegedly driven at least 60 borrowers to death, and the number is...
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