The finance ministry is putting shape to a new social security scheme for unorganized sector workers, creating for the first time a safety net for millions of underpaid and overworked people, many of whom living in abject poverty.  The ministry has discussed with the Life Insurance Corporation (LIC) and the four state run non-life insurance companies the contours of this scheme that will provide life insurance, health cover and retirement pension...

-The Hindu   Vice President Hamid Ansari has come out in favour of a media regulation framework, agreeing with Press Council Chairman Justice Markandey Katju that self-regulation has failed. “Collective self-regulation has yet to succeed in substantive measure because it is neither universal nor enforceable. Individual self-regulation has also failed due to personal predilection and the prevailing of personal interest over public interest,” said Mr. Ansari. He was speaking on the occasion of National...

-The Hindu   The government has finalised rules for the implementation of the country's new nuclear liability that aim to meet the concern of American nuclear suppliers wary of being exposed to unlimited liability in the event of a Fukushima-type accident involving any of their reactors. The rules, which were notified on November 11, were made public on Wednesday on the eve of Prime Minister Manmohan Singh's visit to Bali for a regional...

The govt has thus rejected the recommendation of the parliamentary standing committee on finance that the 26% FDI cap be a part of the Bill The cabinet on Wednesday cleared amendments to the Pension Fund Regulatory and Development Authority Bill, 2011, capping the overseas investment limit in the sector at 26%, but retaining the flexibility to raise this limit by stating that it would not form a part of the legislation. The...

-The Times of India   In what could spell major trouble for TDP president N Chandrababu Naidu, the AP High Court on Monday directed the CBI, Enforcement Directorate (ED) and state police to independently probe the allegations that he and his associates amassed wealth by plundering public assets. The court was responding to a petition filed last month by the late CM YS Rajasekhara Reddy's widow and YSR Congress MLA, Vijayamma. All...