Hokum must have its kingdom. The judicial report on the culpability for the crime perpetrated on December 6, 1992, was first leaked and then laid on the floor of Parliament. The predictable sequel was an uproarious parliamentary debate. Countrymen are however not any more enlightened than they already were. That horrid outrage was committed over 17 years ago, in broad daylight, with the world’s media looking on. Thousands watched the proceedings...

Within a few days from today we will be crossing over to the second decade of the 21st century. Those of us born in the 20th century and lived through the first decade of the 21st, have indeed been fortunate to experience the impact of several giant steps of progress in human history. Mankind has indeed achieved much more in this period than it had in all the previous periods...

The health ministry has questioned the benefits to India of a proposed bill aimed at regulating the entry of foreign universities, unleashing the most scathing criticism the draft legislation has faced from within the government. The draft Foreign Education (Regulation of Entry and Operations) Bill contains loopholes that could deny India benefits to medical education and could even hurt the sector, the health ministry has said. The criticism of the bill...

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,...

Government and regulators need to focus on the systemic risk engendered by excessive compensation. As calendar year 2009 draws to a close, it is bonus season for the financial sector in the West. In the last several months, the need to cap bonuses and compensation packages has been extensively discussed in the context of limiting the future impact of the next financial sector breakdown. On December 9, 2009, the UK was...