-The Hindu Not only has the Comptroller and Auditor General (CAG) defended its position vis-à-vis allegations that it is exceeding its constitutional mandate, it has also been vindicated by the then former Finance Minister, Pranab Mukherjee. At an Economic Editor’s Conference in 2011, he said, “I am making it clear that I do not think the CAG is exceeding its jurisdiction, because the basic responsibility of the CAG is to identify...
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PSU Bank Employees Go On 2-Day Strike
-PTI Employees of public sector banks have gone on two-day nationwide strike today opposing banking sector reforms and outsourcing of non-core activities, affecting operations. Several private sector banks, foreign banks and ATMs, however, continued to operate normally. The strike call was given by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks. They are protesting against banking sector reforms and unilateral implementation of...
More »CDSCO drafting new norms for financial compensation-Mahim Pratap Singh
-The Hindu In the year 2011, 438 people died due to Serious Adverse Events (SAEs) during medicine trials in India, but pharmaceutical companies provided financial compensation in only 16 such cases. The total amount paid in compensation in all the 16 cases adds up to Rs. 34.88 lakh, with the highest amount being Rs. 5 lakh, and the lowest being Rs. 50,000. This makes 2011 only the second year, for which data are...
More »Resurgent agricultural sector to have larger share in economy-Vinay Pandey
-The Economic Times A change in the national accounts, slated to take place sometime in the next two years, will show that a resurgent farm sector is now the second biggest contributor to the economy, displacing manufacturing and financial services. The unexpected reversal is not just a statistical artefact. Instead it is an outcome of a change in the terms of trade, the price of agricultural produce compared to industrial output since...
More »This expensive bulb is fused-Surya P Sethi
-The Hindu Universal electrification will remain a dream unless the government fixes the flaws in its much vaunted scheme to provide power to rural India In his Independence Day speech, the Prime Minister made the statement that “when the UPA Government came to power in 2004, we had promised that we would provide electricity to all villages.” He then went on to say: “Our next target is to provide electricity to each...
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