The Union government has tabled two bills in the Lok Sabha in the last week of the winter session. Since one of them is the lok pal bill, it has hijacked virtually all the public attention. This is a pity for two reasons. First, there is considerable doubt whether the lok pal bill — in any form — can really be the magic solution that Team Anna would like us...
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Tax exemptions for rich costs govt Rs 4.6L cr
-The Times of India The subsidy for the poor is dwindling, but this has not deterred the government from lining up corporate houses' pockets. Last year, the Centre gave away potential revenue of Rs 4.6 lakh crore on account of various tax exemptions and incentives to industrialists, compared to the Rs 1.54 lakh crore on subsidy to poor and farmers. There are direct tax incentives and exemptions to businesses in the corporate...
More »What goes down will surely go up by Raghuvir Srinivasan
Singapore spot market, not production costs, driving Indian petrol price Have you ever wondered why when petrol prices go up or down they do so uniformly across the retail outlets of the three oil marketing companies — Indian Oil, Hindustan Petroleum and Bharat Petroleum? If they are three different companies with their own refineries and distribution systems, then surely their costs and selling prices must be different? Welcome to the strange world...
More »Safety priority for nuclear plants by MS Swaminathan
The stalemate in relation to the Kudankulam Nuclear Power Project (KKNPP) continues despite the ‘fail-safe’ certificate issued by former Indian President Abdul Kalam and the central panel of experts headed by A E Muthunayagam. The representatives of the people of that area are still saying, “We will never settle down for anything less than the scrapping of the KKNPP.” Srikumar Banerjee, secretary of the department of atomic energy, has expressed...
More »Court won't interfere with Petroleum deregulation
-The Hindu Making it clear that it will not go into the policy mechanism of deregulation, the Supreme Court on Friday declined to entertain a public interest writ petition questioning the repeated hike in the price of Petroleum products. Chief Justice S.H. Kapadia told counsel Upamanyu Hazarika, appearing for the All-India Youth Federation, “We cannot decide on pricing. It is a policy and legislative matter. We will not interfere in it. The...
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