The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...
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Google, Yahoo! under fire; Enforcement Directorate to probe forex law violation
-The Economic Times Internet search giants Google and Yahoo! are being investigated for possible violations of the country's Foreign Exchange law, a government official said, intensifying pressure on them as they wage a legal battle over screening of 'objectionable' content on their websites. The Enforcement Directorate, which has reviewed data from the RBI, suspects the two companies of having violated provisions of the Foreign Exchange Management Act. It has begun a preliminary...
More »ED registers money laundering case against Marans
-PTI The Enforcement Directorate has registered a money laundering case against former Union minister Dayanidhi Maran and his brother Kalanidhi in connection with the 2G spectrum allocation case. The case, registered on Tuesday under the Prevention of Money Laundering Act (PMLA), pertains to an alleged illegal gratification of about Rs 550 crore allegedly received by the Maran brothers in the Aircel-Maxis deal. Maran, a former Union telecom minister, had quit from the...
More »VEG OR NON-VEG? INDIA AT THE CROSSROADS
Is the majority of India veg or non-veg? Well, contrary to impression, the land of Gandhi and Buddha is predominantly non-veg. It may well have been majority vegetarian country at some point of time but the new trend is that more and more people are taking to non-vegetarian diets. A new policy paper, “Veg or Non-Veg? India at the Crossroads,” published by Brighter Green, a New York-based public policy action...
More »Indian bureaucracy rated the worst in Asia
-PTI Indian bureaucracy is the worst in Asia with a 9.21 rating out of 10, according to a report by a prestigious consulting firm based in Singapore. India fared worst than Vietnam (rated at 8.54), Indonesia (8.37), Philippines (7.57) and China (7.11), said the report released today by Hong Kong-based Political & Economic Risk Consultancy Ltd. Singapore remained the best with a rating of 2.25, followed by Hong Kong (3.53), Thailand (5.25) Taiwan...
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