While monetary policy is an important element of the artillery against inflation — and with the 25 basis point hike, the RBI did part of what it was expected to do to tighten policy — there is the fiscal task too. As Raghuram Rajan, adviser to Prime Minister Manmohan Singh, points out, the Centre must control expenditure, cut subsidies and not start new spending programmes. Fiscal deficits are large and rising...

The report of the Rangarajan Committee scrutinizing proposals of the National Advisory Council for the National Food Security Bill makes for a very instructive read. It's official now: UPA II is on a death wish, and it could not have been articulated better. The alacrity with which the Prime Minister set up this committee (remember, he could not find time in three years to convene the nutrition council he chairs)...

Advocates carrot and stick formula to ensure compliance Norms must be enforced, which is often difficult, says Prime Minister “Capacity building, key to effective village level planning” In the midst of the raging debate on environment versus development, Prime Minister Manmohan Singh has warned that enforcement of environmental standards must not signal a return to the licence permit raj era. Addressing the Delhi Sustainable Development Summit organised by The Energy and Resources Institute (TERI)...

Prime Minister Manmohan Singh and United Progressive Alliance chairperson Sonia Gandhi have promised to usher in more reforms in the scheme under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and increase the number of days of job guaranteed to Below the Poverty Line households. Speaking at a function here to mark the completion of the fifth year of MGNREGS, Dr. Singh promised to reform the delivery mechanism for the...

Prime Minister Manmohan Singh Wednesday said workers employed under the government's flagship rural jobs scheme, Mahatma Gandhi NREGA, would get higher wages to offset inflation. "We have decided to hike the wages as per the rise in consumer price index. This will raise the wages by 17 to 30 percent," Manmohan Singh said at a function to mark the fifth anniversary of the National Rural Employment Guarantee Act (NREGA). The gathering...