The ongoing debate over the incidence of poverty in India, often assuming surreal proportions, shows that there is indeed a ‘philosophy of poverty’ guiding current economic reforms. The loot of our country’s resources that is taking place both through these reforms, which continue to widen gross inequalities, and through the open plunder of our resources for private gain — as reflected in the series of mega scams — require the legitimacy...

Tamil Nadu chief minister J. Jayalalithaa, who had recommended the suspension of operations at the Koodankulam nuclear power plant until people’s concerns had been allayed, said on Monday that work on the plant should resume immediately. The state cabinet based its decision on a report submitted last month by an expert committee that gave the project the all-clear, she said. “As per the state cabinet consensus, I (order) that the process for...

The Centre on Saturday asserted that adequate funds were available during the2012-13 financial year to meet job demands by below poverty line (BPL) households under the Mahatma Gandhi NREGS. Union Minister of Rural Development Jairam Ramesh underlined that he has recommended reallocation of funds for rural development, especially fordrinking water and sanitation projects, to ensure inclusive growth and reflect the percolation of the high growth rate to the rural side. At the...

Parliament has the power and jurisdiction to clarify, enact law or bring amendments to a law with retrospective effect to remove the basis or defects in a judgment, say legal experts. Under the proposed amendment to the Income Tax Act announced by Finance Minister Pranab Mukherjee in the budget, to come into effect from April 1, 1962, all persons, resident or non-resident, having business connection in India will have to incur...

The government introduced a retrospective clarification to the Income-Tax (I-T) Act, 1961, virtually amending the law to ensure that cross-border transactions such as the $11.08 billion (around Rs55,735 crore today) Vodafone-Hutchison deal are taxable. The Supreme Court had ruled this deal as not being taxable in India. The amendment becomes crucial because a review petition by the government on this case is pending before the Supreme Court, which might now have...