-The Hindu Parliament is considering an amendment to the Prevention of Corruption Act which would only end up helping the corrupt. Its passage would administer a big blow to our already weak anti-Corruption mechanism As the nation engages in a doubtful “war on black money”, we run the risk of disengaging ourselves from any action on Corruption, the fountainhead of black money. Indeed, we may be moving backwards in the battle against...
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Don't eulogise Amma for her freebie politics -SA Aiyar
-The Times of India blog Authoritarian leadership, big Corruption, and endless freebies for the masses. These were the hallmarks of Tamil Nadu chief minister Jayalalithaa (popularly called Amma) who died last week. In this week of mourning, she has been praised by even her bitter political foes. Yet this political correctness must not distort her electoral record. Since the 1970s, power in Tamil Nadu has oscillated between the DMK and Amma’s AIADMK....
More »Cash Crunch: Slowdown, more pain ahead, warns Kaushik Basu -George Mathew & Priyanka Sahoo
-The Indian Express According to him, the currency shortage in the country is unlikely to ease any time in the near future. Mumbai: India’s former Chief Economic Advisor and former chief economist of the World Bank, Kaushik Basu has warned the government that the economy would take a turn for the worse next year besides greater suffering for people in the days ahead and of a new form of Corruption building...
More »Demonetisation: Politics trumps economics -Deepak Nayyar
-Livemint.com The possible macroeconomic consequences of demonetisation are cause for concern as cash is the lifeblood of the economy It is exactly one month since Prime Minister Narendra Modi announced the decision that Rs.500 and Rs.1,000 notes would cease to be legal tender acceptable for payments in settlement of transactions. There was some provision for exchange or deposit of old notes at banks, but with specified limits on sums and time. The past...
More »I-T operations since cash ban yield Rs 2,000 crore; Over 400 inquiries conducted after Nov 8
-The Times of India NEW DELHI: The income tax department has unearthed over Rs 2,000 crore in unaccounted income in search and survey operations across the country since the demonetisation of Rs 500 and Rs 1,000 notes on November 8. The department also seized over Rs 130 crore in cash and jewellery. In a press note on Tuesday, the I-T department said it carried out more than 400 investigations after November 8....
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