The ministry of personnel has shown a surprising lack of alacrity in prosecuting errant babus In August last year, Prime Minister Manmohan Singh was keynote speaker at the annual meeting of India’s premier anti-corruption agency, the CBI. There, addressing officers of the agency and state vigilance bureaus, he made a telling remark, “Our anti-corruption agencies must make the cost of corruption unacceptably high for those indulging in this evil practice.” The prime...
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Private banks gear up to take on public banks in rural India by Anita Bhoir
India’s private sector banks are busy drawing up plans to attack public sector banks in their backyard—rural India—by opening hundreds of new branches. They don’t need to seek the Reserve Bank of India’s (RBI) nod any more to open branches in smaller towns and large villages, the so-called tier III to VI centres with population below 50,000. The Indian central bank has also permitted private and public sector banks to...
More »How Bihar can rise as a developed state by Kailash Nautiyal
It is presumed that the industrial development in Bihar is hampered by lack of investments. Is it because of 'unproductive' government policies or an unpredictable law and order situation? And how to increase the flow of investment in the state? In order to find out answers to all such questions and debate these issues, Business Standard Hindi recently organised a roundtable in Patna. The seminar was attended by various small...
More »Every Breath We Take by Madhu Purnima Kishwar
Why is the government aggressively attacking and destroying inexpensive eco-friendly technologies and promoting pollution-friendly ones? Are we obliged to repeat all the mistakes that the West committed in its pursuit of economic growth? While it makes sense to corner First World countries into investing in eco- friendly technologies to control carbon emissions, as was attempted at Copenhagen, the stand of the Indian government that India cannot afford to enforce better...
More »Indians spend 25% of income on food, 1.5% on health, 1.4% on EMIs
Of Indian households’ total annual income, 0.22 per cent is spent on buying newspapers — that is, if total national household annual income was Rs 100, 22 paise would be set aside for newspapers. Paying off bank loans (expenditure under equated monthly instalments) takes up 1.4 per cent of total household annual income. The share of health expenditure is 1.5 per cent, and that of education expenditure, 3.21 per cent....
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