A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...

-The Telegraph   The New York Times has reported that Wal-Mart, the US-based retail giant, hushed up an internal investigation sometime after the company was told of a bribery campaign to obtain licences and facilitate rapid expansion in Mexico. Some of the alleged instances of bribery are certain to ring a bell in India where it is not too difficult to bend rules for a price. The New York Times said its “examination...

The Anti-Corruption Bureau (ACB) of the Maharashtra Police has sought the Bombay High Court’s intervention and redressal in the case of a special judge in Kolhapur who has ordered acquittals in 41 of the 45 cases she has presided over since 2007.   The ACB is not in agreement with 31 of those 41 acquittals and has already challenged 27 of them. It has also urged the high court to probe the...

Overlooked and ignored, the problem of untouchability continues to be practised and perpetrated in the country. It is a lifetime of misery and humiliation, unimaginable for the relatively privileged but a daily reality for over one-fifth of the country’s 120 crore-plus population, as revealed succinctly in 22 short and easy to view videos under the Article 17 Campaign launched on April 14, 2012 by India Unheard, which claims to be...

How an image-fixated chief minister has bent the state’s media to his will If you haven’t heard of an income tax raid on the residential premises of Nitish Kumar’s close aide and treasurer of the ruling Janata Dal-United (JD-U), Vinay Kumar Sinha, you are not alone. Thanks to the local media, it took a while even in Patna—where the house is located—for people to get to know. This, incidentally, is the...