Over a month after the CBI cracked down on the alleged multi-crore kickbacks-for-loans scam, investigators are believed to have found irregularities in the loan files of at least eight companies, including Lavasa, DB Realty, Mantri Realty and Adani Group. In November, the CBI had arrested three members of Mumbai-based financial service company Money Matters and four others for their involvement in the alleged loan scam. The CBI, after going through loan...

Every time Indian Environment Minister Jairam Ramesh says no to a project, his critics give him a new label: Green fundamentalist, anti-business, anti-growth, obstructionist, Luddite and Dr. No. The job has rarely attracted so much attention, but Ramesh has turned a sleepy and apathetic ministry into a controversial one in recent months. His pronouncements have stopped projects worth billions of dollars, creating powerful enemies in industry and business. His political colleagues have...

The Indian government is exploring a proposal to reduce the limit on foreign direct Investment (FDI) allowed in the pharmaceutical industry through the automatic route to 49% from 100% amid concerns over the takeover of local drug makers by overseas firms. Officials from the ministry of commerce and industry and the ministry of health have had multiple rounds of discussions on the proposal following a note written to them by the finance...

Krishi Bhavan supports endosulfan companies; Kerala protests THE timing and the message of the conference could not have been more stark. At a time when the endosulfan problem is in the limelight, sparking calls for a nationwide ban on the pesticide, its manufacturers staged a remarkable feat. They held a three-day conference on rural prosperity at Delhi’s Vigyan Bhavan, venue for high-power official meetings, and put across the message that the hazardous...

The only economic or social variable that has not moved since 1991 in India is our 93% informal employment in the informal sector. So, while we have smartly and substantially moved the needle on everything from foreign exchange reserves, infant mortality, school enrolment, market capitalisation, foreign Investment, and pregnancy deaths, 9 out of 10 of our workers do not work in organised employment. Informal employment—what President Alan Garcia of Peru...