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...

Clinging on to their cultural moorings are monks from Assam's Majuli islands who were forced to relocate in the 1970s With land swallowed by the Brahmaputra, many monasteries of Assam's Majuli island were relocated to the mainland in the Seventies. The lives of the monks have never been the same. Indrakanta Mahanta, the head of the Vaishnava sattra (monastery), Bogi Ai, can't remember when somebody last asked him about Majuli. And there...

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...

What better elixir than pure water? Thanks to Naandi, a safe drinking water programme, 3,90,536 households in rural areas across four Indian states are benefited.  Naandi, headquartered in Hyderabad, is a not-for-profit organization which works with governing bodies in rural areas, including Karnataka, to provide clean drinking water to the poor. So what really is their modus operandi? It is essentially a community-run programme where the local governing body or gram...

-The Economist West Bengal’s populist chief minister is doing badly. Yet she typifies shifts in power in India BUYER’S remorse is common enough in the dusty markets of Kolkata, a delightful if crumbling great city, once known as Calcutta and still capital of the state of West Bengal. Those who buy cheap plastic goods or plaster-of-Paris busts of Rabindranath Tagore, Bengal’s cultural hero, may come to regret their haste. Likewise, many who...