-The Business Standard Cabinet decisions on fertiliser are not enough Of the two fertiliser-related decisions taken by the Cabinet Committee on Economic Affairs at its recent meeting, the token hike of Rs 50 per tonne in urea prices is inconsequential, and the new mechanism for subsidising fertiliser is problematic. An increase of less than one per cent in urea prices will do little to bring down the subsidy bill or to reduce...
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Policy on FDI in retail lacks legal sanction, says SC
-The Hindu Stay refused, time granted to RBI to amend regulations With the Supreme Court observing on Monday that the Centre’s policy decision permitting FDI in multi-brand retail sector lacked legal sanction, the Attorney General (AG) G. E. Vahanvati assured that the Reserve Bank of India (RBI) would come out with amended Regulations within two weeks. A Bench of Justices R. M. Lodha and Anil R. Dave, while refusing to stay the policy...
More »Untenable critiques sowing confusion on supposed ill-effects of retail FDI-Jagdish Bhagwati & Rajeev Kohli
-The Economic Times Retail sector liberalisation has been revived and included in Prime Minister Manmohan Singh's package of big-bang reforms announced recently. This was to be expected as an element of the package since the influential minister Jairam Ramesh, who has access to Sonia Gandhi and is identified with her NGO-dominated set of advisers whose knowledge of economics is outweighed by their enthusiasm, had already announced his conversion to retail sector...
More »Centre has not followed legal route for FDI in retail: SC -Dhananjay Mahapatra
-The Times of India The Supreme Court has said that the UPA govt did not follow the proper legal route while allowing 100% FDI in retail trade. The apex court gave the government time till November 5 to amend the FEMA policy decision as per the legal requirements. The attorney general informed the court that the RBI is pursuing the amendments and the process would be expedited. In September, the government introduced new laws...
More »Must poor fast to buy drugs: SC -Dhananjay Mahapatra
-The Times of India The Centre on Thursday promised to notify a new drug pricing mechanism for essential medicines by the end of November, but the Supreme Court said a change in policy must not force a sharp rise in drug prices to hurt an already hassled common man. Additional solicitor general Siddharth Luthra informed a bench of Justices G S Singhvi and S J Mukhopadhaya that a Cabinet note on the...
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