A US based research Organisation on financial malpractices recently urged world leaders to increase transparency in the international financial system to curtail the illicit flow of money. Global Financial Integrity (GFI), a Washington based research and advocacy organization also advocated the need of addressing the problems posed by anonymous shell companies, foundations, and trusts by ensuring confirmation of beneficial ownership in all banking and securities accounts.
With Russia taking over the Presidency of G20 countries, there is a great scope for Russia, China and India to sign trilateral agreement among themselves, and provide a global platform for developing nations to restore global balance and order. Observers feel that such a situation has emerged because of US hegemony and the persistent global economic crisis.
Last Tuesday's incident at Loba village of West Bengal's Birbhum district should act as an eye opener for the UPA government to reconsider the proposed Land Acquisition (Amendment) Bill, which was recently cleared by the Cabinet and modified by UPA chairperson Sonia Gandhi.