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 promise made by UPA II that it will ensure food security for Indians through legislation that guarantees the Right to Food seems, in its view, to have been an error. In a multi-stage process that reflects the pulls and pressures within the policy-making elite, the Food Security Bill has been diluted so much that it marks a reversal rather than an advance compared to the status quo. Let us...

It is tragic that the same government that gives huge corporate concessions and loses money in corruption is fighting over minimum wages. As India's — and by some reckoning the world's — largest rights-based rural safety net programme completes five years, here is a reality check. The National Rural Employment Guarantee Scheme (NREGS) has become the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS). But in a monumental affront to the...

From being one of the top spenders in the country for the implementation of the MG NREGA two years ago, Rajasthan is fast sliding down the ladder. The state, this year, will be returning over half of the Rs 8,000 crore it had received from the Centre for its implementation. The revelation came at a job fair organised by the Suchna Evum Rozgar ka Adhikar Abhiyan and several other NGOs from...

The debate over food security is becoming an exercise in callow dissimulation, where we devote our energies to ensure that food security remains a mirage. The core objective should be simple. It is a scandal that after two decades of high growth, India still does not make adequate nutrition available to large sections of the population. There is simply no financial, technological or production related reason why this should be...