An evaluation of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the State has found several shortcomings in the implementation including corruption, inefficiency and lack of awareness about the programme. The draft of the evaluation, conducted by two researchers of the National Institute for Advanced Studies (NIAS) has found that while the rules stipulate that each worker entitled to get 100 days of employment under the scheme should have...
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CAG raps Bihar for poor financial reporting, slack control system by Shoumojit Banerjee
Massive backlog in submission of Detailed Contingent Bills 1,021 cases of misappropriation, defalcation, theft amounting to Rs. 407.97 crore as of March 2010 Large number of unfurnished utilisation CERTificates for grants to the tune of Rs.4,527.77 crore The pendency of Detailed Contingent (DC) Bills, once a subject of a free-for-all in the Bihar Assembly last year, has popped up again in the Comptroller and Auditor-General's report tabled in the Assembly on Wednesday. The audit...
More »Govt plans Rs 1 lakh/day fine for missing energy saving target
The Power Ministry plans to impose huge penalties of over Rs 1 lakh per day on industries that fail to achieve energy efficiency targets under the three-year Perform, Achieve and Trade (PAT) programme starting April 1. PAT, which aims to increase industrial energy efficiency, is expected to bring down energy consumption by 5 per cent, amounting to an avoided capacity of over 5,600 MW over the three-year period. There would be strict...
More »Fukushima Revives Debate Over Nuclear Liability by Ranjit Devraj
The Fukushima disaster has prompted calls to review legislation passed by the Indian parliament in August 2010 that capped compensation payable, in the event of a nuclear accident, at 320 million U.S. dollars. "Fukushima showed what the potential damage from an accident could be," M.V. Ramana, physicist and well-known commentator on nuclear energy safety issues, told IPS. "The economic damages [at Fukushima] must have CERTainly exceeded the compensation allowed in the nuclear...
More »Dr Arvind Virmani, Affiliate Professor (& Distinguished Senior Fellow), George Mason University (School of Public Policy-CEMP), and Executive Director, IMF interviewed by TCA Srinivasa-Raghavan
Given a positive regulatory environment, banks and other financial intermediaries will CERTainly be interested in using the smart card opportunity. Dr Arvind Virmani, with a Ph.D. from Harvard and 30 years of professional experience, is one of the most valued economists in the Government. Before he retired as Chief Economic Advisor in 2009, he had served in the Finance Ministry and the Planning Commission. A researcher par excellence, his research papers...
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