Karnataka's political classes might be striking deals and engaging in a war of words, but this has in no way affected the smooth progress of work for some of the multi-billion dollar industrial projects in the state. ArcelorMittal, the world's largest steel producer, which plans to set up a 6-million tonne per annum plant in Bellary district with an estimated Investment of Rs 30,000 crore, is now seeing farmers come forward...
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Plan panel backs FDI in retail, revives debate by Gaurav Choudhury
The Planning Commission has made a strong pitch for opening up the country’s retail sector to foreign direct Investment (FDI). The longstanding debate on this issue has gained an added edge with the forthcoming visit of US President Barack Obama next month. US business has for long been demanding that India open up its retail sector. “FDI in multi-brand retail trading should be permitted, since it will have both positive direct...
More »UN-backed initiative to enable the blind to access published works
In an unprecedented United Nations-supported initiative, people who cannot see and those who have other forms of visual disability will have access to published works through publisher intermediaries who will create accessible formats of publications and share them with specialized libraries. The new arrangement was announced today at the of the UN World Intellectual Property Organization (WIPO) meeting in the Indian capital, New Delhi. It is estimated that only five percent of...
More »Govt divided on retail FDI as FinMin says no by Surajeet Das Gupta
The government is divided over allowing foreign direct Investment (FDI) in multi-brand and foodgrain retailing. While the Ministry of Finance is opposed to any change in the existing retail FDI policy, the Agriculture and Consumer Affairs Ministries, along with the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry. At present, FDI in these areas of retailing is banned. The finance ministry’s position gains significance in...
More »‘Financial inclusion a result of overall exclusion'
Eminent economist and Vice-Chairman of the Kerala State Planning Board Prabhat Patnaik said on Saturday that the euphoria in official circles over financial inclusion has risen because of the “systematic scaling down of institutional credit to the peasantry and other productive sectors in the last two decades”. Delivering the centenary lecture dedicated to the memory of Prabhat Kar, a pioneer of the trade union movement in the banking industry, Mr....
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