Foreign direct investment in education has been stuttering in India more than a decade after it was allowed, apparently because education is a not-for-profit sector where surplus revenue has to be ploughed back into expanding the institution. India’s education sector has witnessed significant expansion since the government approved FDI in April 2000, thus providing a huge opportunity for investment. Yet FDI remained zero in the first three years, increased till 2008-09...
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Black Money trail: Govt may move against HSBC, Rs 80 cr mopped up by Ritu Sarin
The Government is contemplating legal action against HSBC Bank for what is being described as the “active’’ role of their executives in persuading Indian account-holders to open accounts to park undeclared money in their branch in Geneva. The Central Board of Direct Taxes (CBDT) has sought the opinion of the Law Ministry for this and underlined that a similar course of action has been taken by other countries who, like India,...
More »Black Money debate: Government agrees to bring white paper
-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...
More »A pill to cure all ill? by Nripendra Misra
One hopes that the hotly contested Lokpal Bill will reach its final denouement during the winter session of Parliament. In fact, the debate on corruption in Parliament and media has focused on the single demand for the establishment of an omnipotent institution of the lokpal with its powers of enforcing the citizen’s charter, establishing state-level lokayuktas and encompassing the bureaucracy from a peon to head of the department. It has...
More »Complex report to avoid passage: BJP
-Express News Service Disagreeing with the parliamentary committee report on the Lokpal Bill, the BJP Friday said the legislation failed to include the citizens’ charter as well as lower bureaucracy within its ambit and that it was a clear deviation from the sense of the House that was agreed upon. Claiming it was the handiwork of a lawyer — the chairman of the committee is Congress’ Abhishek Singhvi — the BJP said...
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