By Kavaljit Singh | Commentary | February 25, 2015
The ongoing backlash against the current international investment agreement (IIA) regime calls for policy solutions which not merely strike a good balance between public and private interests in principle but can be translated into workable practice. To explore such solutions, we need to think beyond the box and retreat from the neoliberal orthodoxy. This becomes even more important as we are living in a post-crisis world in which private corporations and investors do not enjoy the level of trust…
In April 2015, the President of the Parliament of the newly-elected government of Greece set up a Committee on the Truth about the Public Debt. This was composed of Greek and foreign experts, economists lawyers and others, as well as members of grassroots organisations. All members offered their services pro bono. The object of the Committee was to investigate how Greek foreign debt had accumulated from 1980 to 2014.
In June 2008, Greek public debt was about 252 billion Euros,…
While the central government is expected to earn a tax revenue of Rs 919,842 crore ($148 billion) for the financial year 2015-16, it is expected to forego revenue of Rs 589,285.2 crore ($95 billion) in 2014-15 due to exemptions granted to companies and individual taxpayers. This forgone revenue, or tax benefits, is twice the defence budget allocation of Rs 247,000 crore in 2014-15. Tax-revenue forgone is a contentious issue–an “incentive” or a “sop”, depending on ideological position–and becoming more so at a time when the…
It’s official: India and the US will resume negotiations on a high-standard bilateral investment treaty (BIT). In a joint statement on Sunday by Prime Minister Narendra Modi and President Barack Obama, the leaders affirmed their “shared commitment to facilitating increased bilateral investment flows and fostering an open and predictable climate for investment.” Since 2008, the two countries have been engaged in sporadic discussions to arrive at such a treaty. In the coming days, negotiations will begin on its wording, based…
President Barack Obama’s upcoming visit to India is likely to kick-start stalled negotiations on a bilateral investment treaty (BIT) between the US and India that has been under sporadic discussion since 2008, aimed at facilitating greater cross-border investment flows. Negotiations will resume based on model treaty texts prepared by each side. In April 2012, the US released a new version of its model BIT. New Delhi launched a review of its investment treaties in mid-2012 in the wake of public…
