Food inflation soared to 17.47 per cent in the third week of November from 15.58 per cent a week ago, mirroring a shortage in supply that set in following weak monsoon in the country. With the economy on upswing, analysts said the rising food prices should prompt the government and the Reserve Bank of India to shift their focus on controlling inflation, otherwise it would increase manufacturing inflation as well. The...

It has been a bumpy ride, with developed countries failing to make definite commitments and India hinting at a shift of stance. THE last leg of the climate change talks held in Barcelona, Spain, on November 2-6 in the run-up to the all-important 15th Conference of the Parties (COP-15) to the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen in December did not result in any dramatic development...

SOMETIMES, TO accentuate the intransigence of the present, one must revisit the past. So first, a flashback. The year is 2006. An ordinary November evening in Delhi. A slow, halting voice breaks into your consciousness. “How shall I explain? It is not a punishment, but my bounden duty…” A haunting phrase in a haunting voice, made slow with pain yet magnetic in its moral force. “My bounden duty.” What could...

Change is the great constant of the world economy. India was still a colony when the allied powers shaped the international architecture at the end of World War Two. Today, India is a rising economic power that is contributing to world growth in new and powerful ways. Economic reforms in India and China, and the export-driven growth strategies of East Asia all contributed in the last 20 years to a world...

Eleven months after B. Ramalinga Raju, the former chairman of Hyderabad-based Satyam Computer Services, confessed to masterminding a $1.2 billion fraud at Indias fourth largest I.T. outsourcing company, the dirt is still tumbling out. On Nov. 24, the country's Central Bureau of Investigation (CBI) released findings that show the alleged fraudulent accounting and embezzlement was far larger than originally thought. Raju and nine accomplices skimmed some $2.5 billion from the...