-The Economic Times Finance minister Pranab Mukherjee has said he had directed three institutions - NIPFP, NIFM and NCAER - to come out with a defendable assessment of the quantum of black money stashed away by Indians in foreign banks. Replying to the discussion on the adjournment motion moved in the House by BJP veteran LK Advani on "the situation arising out black money deposited illegally in foreign banks", Mukherjee declared...

Planning Commission, RBI officials hold brainstorming deliberations with experts With the persistent near double-digit headline inflation, despite sustained increases in key policy rates by the Reserve Bank of India, turning out to be “a frustrating experience for policymakers,” senior officials from the Planning Commission, the Finance Ministry and the RBI met with a group of academic economic experts and representatives of the International Monetary Fund (IMF), the World Bank and the...

Do agencies like the Ford Foundation push their own agenda through the NGOs they support? It’s often said, tongue in cheek, that India’s “shadow” government works out of the nondescript, low-slung buildings abutting the Lodhi Garden in Delhi. That’s partly hubris, but it also stems from being close to the centre of power. This rarefied zone houses powerful “cultural” institutions like the India International Centre, as well as a host...

The success of the institution of Lokpal will depend on limiting its scope to the very top of the hierarchy. That will make it manageable and lead to accountability down the line. The drafting of the Lokpal bill is back in the news after the round of Assembly elections. The co-chairperson of the high-power committee involved in the drafting has said that progress is slow and that the June 30 deadline...

The government has set the ball rolling for estimating black money by signing agreements with three leading think-tanks NCAER, NIFM and NIPFP to conduct study on unaccounted income generated inside and outside the country. They have been given 18 months to complete the study and also suggest administrative and legal measures to prevent generation of black money, according to sources. The first study on unaccounted money was conducted by NIPFP way back...