The wife of a top PSU boss has been caught collecting bribe in gold bricks, the CBI said today, the charge suggesting that the corrupt remain as audacious as ever in spite of the shakedown in high places. Abhay Kumar Srivastava, the chairman and managing director of Navratna PSU Nalco, and his wife Chandni have been arrested. The CBI said Chandni took three 24-carat gold bricks weighing a kg each in...
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Karnataka Budget gives prime place to agricultural sector by S Rajendran
Estimated expenditure on farm and irrigation sectors is Rs. 17,857 crore The agricultural sector has been given prime place in the State Budget presented to the Legislative Assembly on Thursday by Chief Minister B.S. Yeddyurappa, who also holds the Finance portfolio. Mr. Yeddyurappa's focus on agriculture is reminiscent of the Union Budget presented by the first Janata Party Government of Morarji Desai in the post-Emergency era. The estimated expenditure on agriculture and irrigation...
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 »The real meaning of food inflation by KP Prabhakaran Nair
There is a suggestion circulating in the corridors of our apex monetary regulatory authority, the Reserve Bank of India, that food inflation is beginning to look more ‘structural’ than ‘seasonal’, and it can only be tackled by addressing the supply side. We need to address both demand and supply sides simultaneously to tackle food inflation. While we must be happy that more and more poor eat fruits and cook vegetables...
More »Nitish's assets much less than his colleagues
Bihar Chief Minister Nitish Kumar lags far behind his ministerial colleagues in his wealth, details of which were made public on Monday. Details of the assets of 30 Bihar ministers, including Kumar's were uploaded in the government websites as a step towards ending corruption and promised by the chief minister. Kumar's moveable assets include Rs 31,760 in cash, Rs 57,770 in bank account, a Santro car of 2003 model, an old TV...
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