-ENS Economic Bureau   Estimates on black money stashed away by Indians is still very much a grey area. So when the CBI Director emphatically declared on Monday that $500 billion of illegal money belonging to Indians was deposited in tax havens abroad, the figure caused more than a mild flutter.   Mainly because the information currently available on the black money economy is way too disparate and vague. Considering the available evidence, the...

The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...

-The Indian Express   Pranab Mukherjee should use his waking hours to signal bold reforms Until a few years ago no one really thought that governments could go bust. But the deepening sovereign debt crises of Europe have now persuaded us that governments can go bust if their debt levels cross a certain danger mark. What is that danger mark remains a matter of research by economists around the world. Some studies have concluded...

The government’s draft report on black money — that has been circulated to members of the high level committee on black money for final comments — confirms that details of the HSBC accounts in Geneva have given the country its biggest black money trail. Citing this as an instance where the government has moved fast in tracing the coded account holders, the report states that the receipt resulted in information...

Last month, the turmeric farmers of Maharashtra's Sangli district found themselves in a desperate situation. Oversupply had resulted in prices crashing in the local turmeric market, Asia's biggest, threatening their livelihood. And with several thousands growing the commodity across Maharashtra, Andhra Pradesh and Tamil Nadu, any meaningful strategy to halt the price crash meant involving a sizeable number of farmers.  That's when local farmer Atul Salunkhe, 31, had a brainwave. How...