In this winter of gloom, doom and corruption, the government can bask in some warmth from data collected by its statistical agencies. (Alas, these agencies have yet to hire some basic data-processing capabilities from minor computer firms, let alone agencies like Infosys. Perhaps Nandan Nilekani can loan some programmers from the UID project.) So what is the issue, and what is the evidence?It was only a few months ago that...

Ratan Tata has initiated an interesting debate on the nature of India’s capitalist class. His characterization of this class as crony capitalists may not be out of place given recent evidence on a politics, media, judiciary and corporate nexus.Crony capitalism is a system in which businesses multiply their wealth not by fair rules of the market, but through their nexus with governments. Classic examples are the distribution of legal permits,...

Advocates of liberalisation argue that by reducing state intervention and increasing transparency economic reform reduces corruption. Recent allegations of corruption suggest that this may not be true. In a season for scandal, allegations of large scale corruption have captured political India's attention. The instances to which such allegations relate are many, varying from the sale of 2G spectrum and the mobilisation and/or disposal of land and mining resources to purchases made...

India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...

Some people feel agriculture in India provides employment much beyond its capacity — that is, the number of people working on the farm is many times the actual requirement. Prime Minister Manmohan Singh is among the proponents of this view. In his interaction with a group of editors last month, Singh said, “The only way we can raise our heads above poverty is for more people to be taken out of...