-NDTV Officially, the UPA says it will abide by the Lok Sabha Speaker's decision on whether or not a discussion in the House on Foreign Direct Investment in multi-brand retail will be followed by a vote. It seems, however, to be preparing for that vote and Parliamentary Affairs Minister Kamal Nath will meet the BJP's Sushma Swaraj and Arun Jaitley today to discuss modalities. The Manmohan Singh government had so far...
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Yechury springs legal point
-The Telegraph The CPM today claimed the government was legally bound to have its decision on allowing Foreign Direct Investment in multi-brand retail ratified by Parliament and urged the Centre to agree on a discussion under a rule that entails voting. Party MP Sitaram Yechury said according to Section 48 of the Foreign Exchange Management Act, amendments to permit FDI in the sector have to be endorsed by Parliament within a time...
More »Confident government agrees to vote on FDI
-The Times of India The gridlock in Parliament over Foreign Direct Investment in multi-brand retail is set to ease with the Manmohan Singh government - armed with ally DMK's support - dropping its resistance to a discussion under a rule that necessitates a vote. The detente over FDI could see fresh discussion between the ruling coalition and BJP over the winter session's legislative agenda with parliamentary affairs minister Kamal Nath expected to...
More »Joshi formula among 3 CAG used to estimate 2G loss -Appu Esthose Suresh
-The Indian Express One of the three formulae used by the Comptroller and Auditor General to calculate the loss to the government for selling 2G spectrum on a first-come-first-served basis was suggested by BJP leader and Parliament’s Public Accounts Committee (PAC) chairman Murli Manohar Joshi. When the team conducting the audit said they “are not on strong ground” in basing the loss on the formula suggested, they were told by CAG headquarters...
More »Wal-Mart India unit suspends CFO, others
-Reuters The Indian joint venture of Wal-Mart Stores Inc has suspended its chief financial officer and other employees as it investigates alleged violations of US anti-bribery laws, a development that could hamper India's efforts to open its domestic supermarket sector to foreign investment. Wal-Mart, the world's largest retailer, said last week it has opened internal inquiries or investigations into bribery allegations in Brazil, China and India, which follows an earlier probe in...
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