Delhi high court to hear central bank challenge to CIC order seeking information on defaults by top industrialists The Reserve Bank of India (RBI) has challenged an order by the Central Information Commission (CIC) asking the central bank to disclose names of the top 100 industrialists who have defaulted on loan repayments. In a writ petition to the Delhi high court, which is scheduled to be heard on 29 May, the central...

-The Hindu The government has constituted one more expert group to re-examine the methodology for fixing a poverty line and estimating the incidence of poverty in the country. Changes in average incomes and consumption patterns over time may require review and revision of the approach currently in use. However, the last such review of the methodology originally recommended by the Lakdawala committee (1993) was undertaken after more than a decade by...

-The Hindu   Dr. Ahluwalia does not contradict a single fact in the article: (i) Rs.2.02 lakh daily average expenditure for trips between May and October 2011 (well after his “busy” G-20 period ending in 2010). No “gross extravagance”? (ii) 274 days abroad, or one in every nine. Factor in travel days and it could be one in seven away from office. (iii) 42 trips, half of them visits to the U.S. (several trips not...

-The Telegraph The government today set up an expert committee to suggest a new methodology for determining who is poor and who is not, following widespread condemnation of its existing criteria last year. However, the five-member committee headed by C. Rangarajan, chairman of the Prime Minister’s Economic Advisory Council, will also examine the existing methodology, which was suggested by a previous expert panel formed under Suresh Tendulkar. Tendulkar’s methodology was solely based on...

A rural Indian spending Rs. 22.50 a day would not be considered poor by a Planning Commission whose Deputy Chairman's foreign trips between May and October last year cost a daily average of Rs. 2.02 lakh Pranab Mukherjee's stirring call for austerity tugs at the national tear ducts. Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the Finance Ministry even...