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...

The Group of Ministers tasked to suggest ways to curb corruption in public life is weighing a constitutional amendment to fast-track the trials of officials indicted for graft. Sources said changes could be incorporated in Article 311 of the Constitution (dealing with dismissal, removal or demotion of government officials) to provide for summary proceedings in cases of grave misdemeanour or blatant corruption. Also under consideration are amendments to the Prevention of Corruption...

The Centre is mulling summary dismissal of public servants chargesheeted for corruption. The move will ensure that government will not have to wait for long-drawn court battle to sack officials found guilty of corruption. But it is to be seen if such a provision will extend to politicians who are classified as "public servants" in the anti-graft law. A GoM on tackling corruption will take a call on the issue while hammering...

The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...

The CBI's record in the Jain hawala case was disappointing. But there are powerful elements in favour of unravelling the truth in the 2G scam. On December 16, 2010, the Supreme Court (Justices G.S. Singhvi and Asok Kumar Ganguly, ) ordered a comprehensive and thorough investigation by the Central Bureau of Investigation and the Enforcement Directorate into what has become notorious as “the 2G scam.” The investigation, into spectrum allocation from...