-The Times of India A study commissioned by the government last year on quantifying black money generated in the country has estimated that the illicit wealth is likely to exceed 10% of GDP or anywhere above Rs 10 lakh crore, given the size of the Economy. The 1,000-page report was submitted to the finance ministry by the National Institute of Public Finance and Policy (NIPFP) in the last week of December. The...
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IMF says India shouldn’t rush to give banking licences to conglomerates-Remya Nair and Asit Ranjan Mishra
-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
More »UP tops the chart of school dropouts -Isha Jain
-The Times of India LUCKNOW: Right to free and compulsory education (RTE) has failed to ensure cent-percent enrolment of children in schools In UP. Of the 28 states, UP has the unique distinction of having the maximum out of school children aged between 6-14 years, including dropouts as well as children who have never attended school. The Annual Status of Education Report (ASER) findings, published by NGO Pratham, brings to light that...
More »Left, Right vow to oppose FDI in Rajya Sabha
-The Times of India The budget session of Parliament could again be stormy with NDA and Left parties coming together to oppose FDI in retail. BJP, CPI and JD(U) on Tuesday said the government may have got the bill passed in Lok Sabha but it should not feel victorious as they would not let it pass in Rajya Sabha. BJP leader Murli Manohar Joshi even said that if NDA came to power, it...
More »If you think we're done with neoliberalism, think again-George Monbiot
-The Guardian The global application of a fraudulent economic theory brought the west to its knees. Yet for those in power, it offers riches How they must bleed for us. In 2012, the world's 100 richest people became $241 billion richer. They are now worth $1.9 trillion: just a little less than the entire output of the United Kingdom. This is not the result of chance. The rise in the fortunes of the...
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