-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 Times of India   Even as the country continues to witness a campaign for a strong anti-corruption watchdog, a report has calculated that between $104 billion and $128 billion (roughly Rs 5 to 6 lakh crore) was illegally siphoned out of India in the decade spanning 2000 to 2009. This works out to an average outflow of about $10-13 billion (Rs 48,000 to Rs 63,000 crore) every year. The report has been prepared...

-The Economic Times Finance minister Pranab Mukherjee has said he had directed three institutions - NIPFP, NIFM and NCAER - to come out with a defendable assessment of the quantum of black money stashed away by Indians in foreign banks. Replying to the discussion on the adjournment motion moved in the House by BJP veteran LK Advani on "the situation arising out black money deposited illegally in foreign banks", Mukherjee declared...

The contentious issue of finance will be among the key items that will take centrestage at the UN-sponsored climate talks in Durban. Predictable and continuous funding to undertake steps to tackle climate change lies at the core of a balanced global deal. At the pre-conference meeting, South Africa said that the Durban meet should go beyond operationalising the Green Climate Fund agreed on at the Cancun meet. Pretoria indicated that...

The Anna Hazare movement demands no activism from its followers, not even a clear understanding of the specific demands. “COMBATING corruption”, like “promoting peace”, can mean anything to anyone; and precisely because of this “fuzziness” it appeals to everyone. Some join the anti-corruption movement because they are against “corporate loot”; others join because they are against the Nehru-Gandhi “dynasty”; and still others join because they oppose the “corrupt practice of...