While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Having cut off the "umbilical cord" that tied him to the Board, the former Comptroller and Auditor General (CAG) spoke to PTI on a range of issues from "giving a free hand" to the Virat Kohli-Ravi Shastri duo, Anil Kumble's exit as national coach, his frosty relationship with colleague Diana Edulji, sexual harassment allegations against BCCI CEO Rahul Johri and difficulties in implementing the Supreme Court-mandated Lodha recommendations.
CAG, in a report tabled in Parliament today, said Oil and Natural Gas Corporation hired rig 'Actinia' from RIL for six months in 2009 for Rs 146.71 crore (Rs 1.46 billion) saying it needed urgently drill three wells but its actual usage indicated the hiring was 'not necessary'.
In a complete defiance of the Supremer Court, the Board of Control for Cricket in India, on Saturday, rejected key recommendations of the Lodha Committee, like one-state one-vote, age limit of 70 years and cooling-off period of three years, setting the stage for another round of confrontation with the apex court.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
'As someone who has had the opportunity of cross examining Vinod Rai, extensively over three days as part of the Joint Parliamentary Committee, many of us included I had concluded at that point of time that this report rests on the foundation of sand.'
The Supreme Court on Monday refused to entertain a Public Interest Litigation challenging the appointment of Shashi Kant Sharma as the Comptroller and Auditor General of India.
West Bengal Chief Minister Mamata Banerjee could be staring at troubled times ahead as the Saradha scam trail seemingly leads up to her doorstep.
'While overall this is a face saving deal just before the BRICS meeting in Xiamen, any forward military movement at Doklam once again could bring the two Asian giants at loggerheads,' says China expert Srikanth Kondapalli.
An expert committee has recommended to Defence Minister Manohar Parrikar that supply of equipment need not be blocked even if bribery charges emerge.
"Why is it that whenever there are no political overtones to a case, the CBI does a good job?" he said.
The Supreme Court on Tuesday dismissed the Board of Control for Cricket in India's petition seeking review of the court verdict validating Lodha Panel recommendations.
'No sovereign guarantee, no bank guarantee, no escrow account, yet a huge amount was paid as advance'
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
The term of the last chairman of the pension regulator, Yogesh Agarwal, was cut short by the finance ministry in November.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
From a dismal Airport Service Quality ranking of 101 in 2006, it topped the list in 2016.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
Mergers to create at most six state banks
After three decades of glorious service, the Sea Harrier jets of the Indian Air Force will fly into the sunset on Wednesday.
'I am only asking about his travel bills and expenditure.'
The Congress on Monday sought a discussion on the latest report of the CAG, listing alleged irregularities in Gujarat State Petroleum Corporation's KG basin gas project and forced three adjournments in Rajya Sabha in the pre-noon session demanding a response from Prime Minister Narendra Modi.
The Railways has also reduced flexi-fares from 1.5 to 1.4 times the base ticket fare in 101 trains
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
President Pranab Mukherjee presented five Padma Vibhushan, eight Padma Bhushan and forty-three Padma Shri awards at the Rashtrapati Bhavan in New Delhi.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
DoT and the company have not done anything that breached the guidelines mentioned in the notice inviting applications for the auction of the BWA spectrum in 2010, it stated in a reply to CAG's draft audit report.
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
The CAG has suggested canceling nationwide broadband spectrum allocated to Infotel Broadband Services, now a Reliance Industries company, for allegedly rigging the auction and violating rules.
The government had in October 2007 set a sale price of $4.20 per million British thermal unit based on the price discovered by RIL from key customers.
'At least three top bureaucrats have been declared guilty in recent years in connection with scams where they had no pecuniary benefit.' 'But in the telecom case, a money trail is declared irrelevant because no scam has been proved in the first place.' 'Fair enough; so we must punish illegality without criminality, but ignore possible criminality as suggestive of illegality,' points out T N Ninan.
Somesh Jha describes the mood at Patiala House courtroom and outside on Thursday during the 2G spectrum case verdict.
'The EC is a sacred institution.' 'In the last few years, more than once, we have found the EC bending over backwards to accommodate the government.'
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There is no doubt that the Modi government has showed greater urgency in unearthing unaccounted money stashed away by some Indians in tax havens and other countries, enjoying the advantages of the latter's banking secrecy laws.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
'A lot of people -- whether farmers, students or businessmen -- think when they take a loan, that everything will go well and they will pay back.' 'Sometimes, things don't go well.'
