-The Times of India CHENNAI: Chief minister J Jayalalithaa on Friday declared that all districts of Tamil Nadu, except Chennai, were drought-hit. After a disastrous monsoon and with Karnataka proving intractable on release of Cauvery water, experts said the CM's statement appeared calculated to buttress the state's case in court for immediate relief. But Jayalalithaa injected the declaration with a sense of urgency, saying finance minister O Paneerselvam would lead a high-level team...
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A committee to ‘administer’ a ‘market price’ for gas-Sunjoy Joshi
-The Hindu In his article in The Hindu (editorial page, “Making a mockery of domestic gas pricing,” January 18, 2013, Surya P. Sethi attacks the gas pricing formula proposed by the Rangarajan Committee, curiously enough, for being based on numbers from foreign markets that do not reflect the supply, demand or cost of production in India. I say “curiously” because on the exact opposite side, domestic producers are also pillorying the committee’s...
More »Army’s stand makes it hard to amend AFSPA: Chidambaram-Sandeep Joshi
-The Hindu Union Finance Minister P. Chidambaram on Wednesday stressed the need for making the controversial Armed Forces (Special Power) Act (AFSPA) a more “humanitarian” law, but asserted that the Union government could not move forward as there was “no consensus” between the Army and the government on the issue. “The Army has taken a strong stand against any dilution of the AFSPA… We can’t move forward because there is no consensus. “The...
More »Shell India accused of tax evasion-Utpal Bhaskar, Remya Nair and Amrit Raj
-Live Mint Income-tax department says firm had underpriced intragroup share transfer by Rs 15,000 cr and evaded taxes consequently The Indian arm of Royal Dutch Shell Plc , Shell India Pvt. Ltd, has been accused by the income-tax (I-T) authorities of underpricing an intragroup share transfer by ` 15,000 crore and consequently evading taxes, said a person familiar with the development. Following the notice, which is one of the biggest transfer pricing orders...
More »Cabinet clears new Lokpal Bill-Liz Mathew and Anuja
-Live Mint Cabinet-approved Bill may stir up controversy after it left out a key proposal to bring CBI within its purview On the day that it approved the anti-graft Lokpal Bill, the first murmurs of dissent against finance minister P. Chidambaram’s call for expenditure cuts surfaced in the Union cabinet—over the seemingly piffling amount of `90.38 crore. The cabinet eventually overruled the finance ministry’s objections and approved the infusion of the money for...
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