The government introduced a retrospective clarification to the Income-Tax (I-T) Act, 1961, virtually amending the law to ensure that cross-border transactions such as the $11.08 billion (around Rs55,735 crore today) Vodafone-Hutchison deal are taxable. The Supreme Court had ruled this deal as not being taxable in India. The amendment becomes crucial because a review petition by the government on this case is pending before the Supreme Court, which might now have...

-The Hindu ‘But cumbersome anti-graft apparatus can delay decisions'   With a slew of scams vitiating the government's policy-making environment and holding up reforms, the Economic Survey 2011-12 on Thursday advocated need for a ruthless crackdown on corruption, but cautioned that a large and cumbersome anti-corruption bureaucracy could impact decision-making. “While we need to ruthlessly crack down on corruption, it must, at the same time, be recognised that the fear of a large and...

-IANS   Calling for effective measures to improve the efficiency of social sector programmes, the Economic Survey for 2011-12 has suggested extending the government's ambitious rural jobs scheme to urban areas, strengthening panchayati raj Institutions (PRIs) and skill improvement for enhanced employability. The survey, which was presented by Finance Minister Pranab Mukherjee in parliament Thursday, said that programmes like Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have been instrumental in creating employment...

The Centre is planning a few amendments to key education reform bills whose legislative progress has been stalled by opposition to several of their clauses. The Telegraph had reported how private educational Institutions had been arguing that the “draconian” bills would make it difficult for new colleges and universities to be opened, and would threaten institutional heads with stringent punishment for minor mishaps. Human resource development ministry sources now say they propose...

-The Hindu As it stands on the threshold of the Twelfth Plan, India has a historic opportunity to elevate education and healthcare as the strongest pillars of its future development. Yearning for life-building education is unprecedented today. Yet, as Amartya Sen pointed out last year, the system remains deeply unjust. Access to excellence is open to those who can afford it, while the less-affluent majority has been left behind without even...