A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...
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A big step forward-CP Chandrasekhar
That this is the first time a compulsory licence has been granted in India is in itself important. INDIA'S long struggle to ensure access to affordable medicines for its people recently took a positive and interesting turn. In early March, just before he demitted office, Controller General of Patents P.H. Kurian passed an order on an application filed by Natco Pharma, headquartered in Hyderabad, requesting a licence to produce an anti-cancer...
More »Debate on poverty does not alter the reality of declining poverty or strategy to combat it-PP Sangal
The Planning Commission drew flak when it calculated that if an urban person spent 28 per head every day and someone in rural areas spent 22, that was enough to consider them to be above the poverty line. These figures are based on consumption expenditure data collected in the 66th round of NSSO for 2009-10. From these new estimates, using the Tendulkar Committee methodology, the number of poor in 2009-10 was...
More »New methods needed to answer old controversy in poverty measurement-Sreelatha Menon & Indivjal Dhasmana
The professional divide on Tendulkar's estimation goes a long way back A committee is being set up to devise yet another methodology to estimate poverty in India. The step has led to some unhappiness among economists and experts that it amounts to junking the services and competence of an expert like the late Suresh Tendulkar, whose study is sought to be replaced. Under pressure from all sides over its estimate of people...
More »Germany strikes deal to tax secret Swiss accounts by David Jolly
—New York Times News Service Switzerland has agreed to a revised tax deal with Germany, with Switzerland to pay billions of dollars on funds hidden in its banks by German tax dodgers. The deal was the latest step in an international charm offensive that is meant to salvage at least some of Switzerland's famous banking secrecy. The accord, which was tougher to reach after a deal in September was criticised by German...
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