A widening corruption scandal that has touched India’s prime minister sent the country’s stock markets down sharply on Friday and threatened to tarnish the country’s image as a rising economic power. Setting off the turmoil was a report from the country’s auditor earlier this week that about $40 billion in wireless spectrum license fees had been squandered by the government’s telecommunications and information technology minister. On Thursday, India’s Supreme Court criticized...

The new CBI director has promised to speed up investigations into corruption cases being handLED by the agency in Jharkhand, including the ones faced by former chief minister Madhu Koda and pending fodder scam cases against RJD chief Lalu Prasad. Soon after assuming charge, the Jharkhand cadre 1974-batch IPS officer Amar Pratap Singh said he would ensure that these corruption cases got more attention. “We will see that investigations and trials...

Asian governments, battling soaring food inflation, are pumping ever more resources into agriculture but will struggle to offset rapidly expanding demand in top consumers China and India. China, stung by consumer prices running at a 25-month peak, has been selling state stockpiles. It has also ordered banks to urgently offer support to farmers, an example of the sort of firepower these governments can deploy. With China and India also in many cases...

The indiscriminate use of fertilisers, insecticides and pesticides over the years has LED to deterioration of soil quality and crop productivity in India. According to a study conducted by the central soil water conservation research and training institute (CSWCRTI), Dehra Dun, about 1 millimetre of top soil is lost every year due to erosion. This leads to a total soil loss of 5,334 million tonnes annually, at an average rate...

India's economy grew faster than expected in the second quarter of its financial year, figures show. In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year. However, inflation remains a real concern for authorities with new figures showing prices rising by 9.7% in October. Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China. Strong farm production, increased vehicle...