Manmohan Singh today refused to yield to pressure on the question of allowing foreign direct investment in retail and appeared ready for a protracted battle, including the risk of a vote in Parliament despite his government’s fragile majority. Somewhat reminiscent of his nuclear deal stand, the Prime Minister confronted those who had accused the government of taking a hasty decision on retail. “We have not taken this decision in haste, but after...

In the winter of 2009, Vilam Singh, a young tribal farmer from Chhattisgarh's Kawardha district, applied for 100 rupee-a-day work under MNREGA, the rural job scheme.  One year later, the same below-the-poverty line farmer bought land worth 3.36 crore rupees in another district, Janjgir Champa.  What explains the sudden turn of fortune?  "He did not turn rich overnight. He was simply roped in to act as a front by a power company that...

-IANS Finance Minister Pranab Mukherjee on Wednesday met Congress MPs after calling on party president Sonia Gandhi to discuss the standoff over the decision to allow foreign equity in retail.  The government's known troubleshooter held a brief meeting with Gandhi at her 10 Janpath residence before meeting party MPs to allay their apprehensions on the decision to allow 51 percent foreign direct investment ( FDI) in multi-brand retail and 100 percent in...

Farmers, a holy-cow constituency considered more valuable than small traders to the political class, have begun to ask uncomfortable questions to those opposing foreign direct investment (FDI) in retail. Several farmer groups, some of them led by politicians with ties to the Congress, have asked why some parties are standing in the way of a measure that is expected to reduce the clout of middlemen and increase farm earnings. Although Prime Minister...

Railways tops the list among infrastructure projects that missed the deadline, causing huge cost overruns to the exchequer. Among the 134 rail projects monitored by the government, 101 were facing delays leading to cost overrun to the tune of Rs 56,609.3 crore, an increase of 153.5%.  There are 26 projects running behind schedule - ranging from two to 213 months - leading to the rise in cost by Rs 20,575 crore....