The government may make mandatory the disclosure of high-value purchases such as property and jewellery. Stung by growing public outrage over corruption, finance minister Pranab Mukherjee will on Monday spell out steps taken and planned to curb proliferation of black Money. There are no clear estimates of the size of India’s black economy but the amount is pegged between $462 billion (Rs.22 lakh crore) and $1.4 trillion (Rs.77 lakh crore). Mukherjee...

The Parliament of India, the highest citadel of its democracy, recently completed 60 years. This magnificent circular edifice was inaugurated on January 18, 1927, by the then governor-general, Lord Irwin, and legislative councils had conducted its sessions here. After Independence, the Central Hall accommodated the Constituent Assembly till it completed writing the Constitution. The first Lok Sabha was constituted on April 17, 1952, and the first Rajya Sabha on April...

Under fire from all quarters for its inability to tackle the problem of black Money, the government plans to focus on the real estate and gold and jewellery sectors to stanch the movement of unaccounted funds. The proposed white paper on black Money, to be tabled in Parliament’s current session, is likely to propose a debate on “offshore voluntary compliance” for tax evaders with large sums stashed abroad, officials involved in...

-The Economic Times, The Cabinet has cleared a proposed Bill empowering the Reserve Bank of India (RBI) to regulate all microfinance institutions (MFIs). A central legislation makes sense only to the extent that it over-rides draconian state-level laws. However, the Bill suffers from many infirmities. And it is unfortunate that these have been overlooked. The law, if enacted, is likely to kill small MFIs and hurt the sector that is struggling...

Computers in primary school classrooms are not inherently a good thing I read with interest the report on the Central Advisory Board of Education on the use of technology in education, and broadly agree with their conclusion that computers should not enter the classroom until upper primary school level. The modern fascination with new technology makes me think of what Henry David Thoreau said: “Our inventions are wont to be pretty toys,...