The govt has thus rejected the recommendation of the parliamentary standing committee on finance that the 26% FDI cap be a part of the Bill The cabinet on Wednesday cleared amendments to the Pension Fund Regulatory and Development Authority Bill, 2011, capping the overseas investment limit in the sector at 26%, but retaining the flexibility to raise this limit by stating that it would not form a part of the legislation. The...

The National Food Security Act shall be rolled out starting next financial year spread in phases running up to the parliamentary elections, in what could be an attempt to do the loan-waiver trick in 2014. The government has finalized the bill bringing it substantially closer to the National Advisory Council recommendations. The government has resolved most of the issues that had been in contradiction with the NAC advice and intends to...

-The Hindu   If the proposed Lokpal Bill intends to address corruption in high places, the UPA government, as part of its anti-graft campaign, plans to introduce a Citizens Right to Grievance Redress Bill to complement it in the coming winter session of Parliament. At a joint press conference, Rural Development Minister Jairam Ramesh and Minister of State for Personnel, Public Grievances and Pensions V. Narayanswamy stressed that it would go beyond the...

-The Economist   The world’s population will reach 7 billion at the end of October. Don’t panic IN 1950 the whole population of the earth—2.5 billion—could have squeezed, shoulder to shoulder, onto the Isle of Wight, a 381-square-kilometre rock off southern England. By 1968 John Brunner, a British novelist, observed that the earth’s people—by then 3.5 billion—would have required the Isle of Man, 572 square kilometres in the Irish Sea, for its standing...

The Smart Card Project is helping nearly 12.7 million poor people in Andhra Pradesh to get timely payment of wages It was conceived as a vehicle to promote financial inclusion by taking banking services to the unbanked poor, harnessing information and communications technology to ensure the benefits of public welfare programmes reach those they are intended for by plugging leakages. The Andhra Pradesh Smart Card Project, launched in 2007, is...