While the government may be finding it difficult to get its FDI in multi-brand retail pass the test of Parliament, India Inc has been pledging huge investments in wholesale and retail trade abroad, including in countries like the US and the UK. In the 2010-11 fiscal, investments of Indian companies in wholesale and retail trade overseas went up 78% as compared to the previous year - up from $1,052 million in...
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Unparliamentary flip flops mar FDI debate
-CNN-IBN "Many said that Kentucky (KFC) will drive the dhabas out of the market. The dhabas have driven out Kentucky. The Indian sherbet is still there despite Coca Cola and Pepsi. Don't underestimate India." That was former NDA finance minister Jaswant Singh in 2004 when he supported FDI in retail. "Fifty per cent of our population, comprising of small traders, street-vendors and the self-employed, sustain themselves through retail businesses. The UPA government...
More »Huguette Labelle, chairperson of Transparency International interviewed by ET
India has scored 3.1 (down from 3.3 last year) on a scale - where 10 indicates very clean and zero, highly corrupt - of Corruption Perceptions Index (CPI). The CPI focuses on corruption in the public sector, involving public officials, civil servants or politicians. The data sources used to compile the index include questions relating to the abuse of power and bribery of public officials, kickbacks in public procurement, embezzlement of...
More »World on brink of another economic meltdown and recession: UN
-PTI The United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down. The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6 per cent from 4 per cent in...
More »Bihar nod for draft Lokayukta Bill by Shoumojit Banerjee
The Bihar Government on Thursday approved the draft of the State Lokayukta Bill, 2011 after a Cabinet meeting took the decision to this effect. The Bill is expected to be passed during the State Legislature's Winter session, which commences on Friday. However, the Bill's provisions and amendments would be clear only after it had met with approval from the Governor's office and discussed threadbare by all parties in the Legislature, said Cabinet...
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