-The Times of India NEW DELHI: Right to life outweighed right to do business with the Supreme Court on Monday rejecting State Bank of India's petition challenging an Allahabad high court order directing sugar mills in Uttar Pradesh to sell the sugar stock hypothecated to SBI against loans to pay sugarcane farmers' dues. Sugar mills had taken loans totaling Rs 3,000 crore from SBI by hypothecating their sugar stock. Under law, the...
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Don’t bank on it, yet -Paranjoy Guha Thakurta
-Deccan Chronicle On August 15, Prime Minister Narendra Modi announced the Pradhan Mantri Jan Dhan Yojana, a financial inclusion scheme that will ensure that at least one member of each and every family in India not only has a bank account with a debit card, but is also provided an overdraft facility of Rs 5,000, a life insurance policy of Rs 30,000 and accident insurance cover of Rs 1,00,000. On August...
More »On the mythology of social policy -Jean Drèze
-The Hindu India is among the world champions of social underspending. Without enlightened social policies, growth mania is unlikely to deliver more under the new government than it did under the previous one Few people today remember the letter written on August 7, 2013 by Mr. Narendra Modi, then Chief Minister of Gujarat, to Prime Minister Manmohan Singh. In this letter, available on the Bharatiya Janata Party (BJP) website, Mr. Modi criticised...
More »Delhi’s drainage, desilting and flood control a big fraud: CAG -Josy Joseph
-The Times of India NEW DELHI: Stuck on a waterlogged road, many of you would blame the monsoon for your misery. This report should dispel that notion. In its audit of Delhi's drainage, desilting and flood control measures, the Comptroller and Auditor General of India has unearthed systematic fraud and neglect, showing how taxpayers' money is virtually going down the drain. The report, which could be tabled in Parliament soon, reveals a...
More »Maharashtra government sitting on Scams involving 4,500 crore, finds CAG report -Chittaranjan Tembhekar
-The Times of India MUMBAI: The Maharashtra government is still sitting on Scams involving losses of around Rs 4,500 crore of public money, the Comptroller and Auditor General (CAG) has revealed. In its report released on Saturday, the CAG has pointed out that state departments had failed to explain and audit queries/observations involving the around Rs 4,500 crore-loss of the public exchequer. According to the CAG, by June 2013, there were 4,760...
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