The Union finance ministry’s mid-year fiscal Review, tabled in Parliament last week, notes very correctly that the “current period represents a crossroads for the Indian economy”. Having weathered the global economic downturn, the Indian economy has performed better than expected. Hence, the Review’s upbeat tone is understandable. Yet, the Review offers an honest account of the challenges ahead, hence the view that India is at a crossroads. Much of the...

The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...

India needs to initiate a number of steps to manage the emerging situation.  After three consecutive good years, agricultural production has faltered in the last two years. There was a fall in production to the tune of 1.6 per cent in 2008-2009 compared to the previous year. This year, again, agricultural production is likely to be down by 2 per cent or more. The deceleration in the growth of foodgrain...

It is to counter the Danish draft that proposed tough action by developing countries Call for setting up of a Global Climate Fund The four emerging economies — Brazil, South Africa, India and China — have recommended the establishment of a mechanism to develop and transfer environment-friendly technology to developing countries, remove barriers in technology transfer and appropriately address issues of intellectual property rights. The BASIC draft proposed by these four developing...

Why would a politician turn cheerleader for those trying to dig dirt against the men and women who form the final but vital link in his political supply chain - the sarpanches or village heads? Perhaps to show his commitment to the government program he owes his job to. This month, Bhilwara in Rajasthan saw something best described as 'social service' meets 'crack investigation': around 1500 people voluntarily gathered and...