-The Times of India NEW DELHI: The Prime Minister's Office held an urgent meeting with income tax department officials on Monday to discuss the fallout of the PM's National Relief Fund facing de-recognition of its Permanent Account Number (PAN). Having received objections from some quarters that the PM's relief fund is a private body and not a government entity, the PAN obtained for receiving donations faces de-recognition as it was obtained in...
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Indian economy destroyed by mindless consumption -Bharat Jhunjhunwala
-The Hindustan Times In his Independence Day address, Prime Minister Manmohan Singh said the rupee is down because of the global economic crisis. A look at the events of the last decade reveals otherwise. When the global economy was doing well between 2002 and 2008, the rupee was stable at about Rs. 45 to a dollar. When the global crisis erupted in 2008 and continued until 2012, the rupee held stable...
More »Figuring out Gujarat -Bhalchandra Mungekar
-The Indian Express The Gujarat model of development is not what its champions say it is Having realised that the people of India have not exonerated him for the post-Godhra killings of Muslims in 2002 on his watch, Gujarat Chief Minister Narendra Modi systematically tried to build up his image as a "man of development"(vikas purush). The Sangh Parivar called it the "Gujarat model of development" and started propagating it. But what...
More »Haryana govt justifies Rs 2-3 compensation to rain-hit farmers
-The Times of India CHANDIGARH: Rubbing salt into the wounds of rain-hit farmers who were issued cheques of Rs 2 and Rs 3 as compensation, the Haryana government on Friday justified the criteria on which the entitlement was based, even claiming that in some were paid in excess. A farmer who got a cheque of Rs 3 in Jhajjar district, was actually given 33 paise in excess, according to a press note...
More »Fixed deposits earning you negative returns-Mayur Shetty
-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...
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