This is a unique situation. For governments, development authorities, lenders and borrowers alike. On Wednesday, a Supreme Court (SC) Bench headed by Justice GS Singhvi upheld a verdict of the Allahabad High Court that quashed acquisition of 176 hectares of land from farmers in Greater Noida stating that the authorities were “sub-serving” private builders in the name of public interest. Land purchased from the government was always considered ‘clean’. This verdict,...
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Rural India spending more on FMCG and services: NSSO
-The Economic Times Rural Indian households are spending more on consumer goods like durables, beverages and services than five years ago, shows the latest expenditure data that debunks the notion that rapid growth in recent years did not benefit the hinterlands. The household consumer expenditure survey for 2009-10, released by the National Sample Survey Office ( NSSO )) on Friday, shows rising real spending in rural areas, even though it...
More »Power centre or toothless body? by Akshat Kaushal
Why is the ruling party unable to pass 3 very important bills? The National Advisory Council draws its exalted status from the fact that UPA Chairperson Sonia Gandhi heads it. But its inability to get its way on three new Bills indicates that its influence is waning. A couple of weeks ago, the Sonia Gandhi-led National Advisory Council (NAC) cleared the drafts of two significant Bills — the Food Security Bill and...
More »Work at Orissa Posco site resumes after 10 day break by Nageshwar Patnaik
There is something for Posco finally to cheer about as work at its proposed site for Rs 52 ,000-crore steel project in Orissa's Jagatsinghpur district resumed on Tuesday after remaining stalled since June 26. "Work in Gadakujanga and Nuagaon areas is going on today," Jagatsinghpur district collector N C Jena said. Felling of trees and clearing of forest area and acquired betel-vine farms were continuing in Gadakujanga and Nuagaon areas,...
More »Govt to adopt NAC food security target by Rajeev Deshpande
-The Times of India The government is set to accept the Sonia Gandhi-led National Advisory Council's recommendation to cover 75% rural and 50% urban population under a food security law, but wants to keep the percentages outside the language of the Act itself. UPA-2 is inclined to set the percentage of population covered in a notification or schedule accompanying the Act so that it can be revised by executive order...
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