Drug smugglers and third-world dictators laundering ill-gotten wealth through secretive banking systems in tax havens is an anachronistic image from crime novels. Leveraging US' remarkable success in compelling tax havens to block terrorist financing, the G20/OECD have successfully persuaded tax havens to improve tax transparency and participate in an international regime of information exchange.  All tax havens have committed to OECD standards for tax transparency and are executing Tax Information Exchange...

The government is thinking of letting the states cherry pick the central schemes for rural welfare, a step back from centralized decision-making that it hopes could help quell the accusations that Centre was weakening the federal structure. The idea behind the 'flexifund route' is to allow states the freedom to decide rural development schemes they want to implement and how much of allocation should each get. It would mark a departure...

Central bank sold its majority stake in Oct 2010; change will ensure entire equity  is held by the govt The government will amend a law governing the National Bank for Agriculture and Rural Development (Nabard) to allow the Reserve Bank of India (RBI) to sell its 1% stake in the development lender. The central bank sold its majority stake in the lender to the government in October 2010. The government owns 99%...

Imagine you are a citizen racing across newspapers rapid fire. As you flip the pages you run across events like the Vedanta mining case, the Koodankulam nuclear controversy, the debate on poverty and reports about climate change. Each of these can be a life-threatening event and none of them have a life support system of knowledge which allows them to be debated in the open. The basic information comes from...

-PTI The government on Tuesday said it has agreed in-principle to deregulate diesel prices, but is not considering similar proposal for the cooking gas.  "Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.  While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a...