The Comptroller and Auditor General has alleged that the union power ministry gave “undue benefit” of Rs 1.20 lakh crore — calculated over the next 25 years — to Reliance Power Ltd (RPL) in the ultra mega power projects (UMPPs) at Sasan in Madhya Pradesh and Tilaiya in Jharkhand.   In its report sent to the power ministry last month, the CAG has argued that the government did so by changing coal...

Only in India does redistribution, which keeps the poor and marginalised out of the mainstream of the economy, pass for inclusive growth. In much of the rest of the world, inclusive growth would mean giving the poor and marginalised a direct stake in the economy with fast-growing industries and services absorbing them into gainful employment and, thus, making them true participants and partners in the growth process.  But in India, we...

The year 2010 endured 950 natural disasters, 90 percent of which were weather-related and cost the global community well over 130 billion dollars. From wildfires in Brazil to record rainfall in the United States to the severe drought and famine in the Horn of Africa, it has become clear to many that quick and radical decisions need to be made about the world's future.  One of the biggest advocates of this position...

-The Economic Times   Chief economic advisor Kaushik Basu has said that part of the blame for the sustained high inflation in India must go to rising wages.  Basu believes that labour cost differences between the developed and labour-surplus countries such as India that have been in existence for a long time have now started narrowing which is feeding into higher prices within the country.  "The reason for inflationary pressures in India is that...

Japanese encephalitis — a form of brain fever — has hit the state capital and its neighbouring areas. At least 10-12 cases of the disease are being reported at Patna Medical College and Hospital (PMCH) daily over the past few days. Dr Nigam Prakash Narayan, a senior doctor at the paediatrics ward of the hospital, said: “About 250 patients of encephalitis have been admitted to the hospital so far. Of them,...