-The Business Standard Finance Minister Pranab Mukherjee explained the government’s helplessness over inflation in the Rajya Sabha with great eloquence on Thursday. Much of what he said may have solid economic fundamentals, but the United Progressive Alliance (UPA) government cannot claim helplessness forever — not when the signs of the cracks it is creating in India’s rural prosperity are becoming so obvious. If any one thing that has protected the Indian...
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Fragmented Bengal funds other states
-The Telegraph RBI governor D. Subbarao has expressed concern over Bengal’s low credit-deposit ratio, which means that funds from the cash-starved state are actually meeting the borrowing needs elsewhere. The erstwhile Left government used to blame banks for the skewed ratio. But bankers have blamed it on the poor credit absorption capacity of rural Bengal because of fragmented land holdings — a fallout of the land reforms. After a meeting with chief minister...
More »Centre veering round to including Group C employees in Lokpal by Smita Gupta
Idea to keep promise made in ‘sense of the House' resolution The United Progressive Alliance (UPA) government, which in recent days indicated that it was not keen on including the lower bureaucracy within the ambit of the Lokpal Bill, as it was billed as an instrument to deal with corruption in high places, is now veering round to the view that the Group C employees could be included in the Bill...
More »Blow to Aadhaar project as Bill is rejected
-The Hindu The Parliamentary Standing Committee on Finance has rejected the National Identification Authority of India (NIAI) Bill, which was meant to give a legal backing to the Aadhaar project and its aim of using biometrics to create a unique identity for every resident of India. Sources in the Committee say the Bill has been rejected in its current form on the grounds of the project's high cost, as well as concerns...
More »Parliamentary Standing Committee May Recommend Withdrawal Of UID Bill: Report by Nikhil Pahwa
A Parliamentary Standing Committee on Finance is set to recommend that the government withdraw the National Identification Authority of India Bill 2010, reports India Today, citing unnamed sources. The recommendation is to withdraw the bill and introduce another one, because members of the standing committee found the project directionless, and that the bill and the project are not acceptable in their present form, the report states. It doesn’t quite mention...
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