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...

A large number of civil society organisations and common people from various districts of Rajasthan staged a massive protest rally in Jaipur on Dec 15 against the state government’s inaction in the implementation of social audits in the NREGS works. They have charged that the state government has deliberately avoided taking action against elected sarpanches who have managed to stall the process of social audits in the state. Over 1500...

Very little is known generally about operational NGOs that work closely with people on a daily basis. WHILE a good many people in the country know that the Central and State governments have a number of plans and projects to bring about development – not all of them either well-conceived or well administered – they are much less aware of the part played in the overall development process by non-governmental...

The concept of a “parallel” school for children from “weaker sections” of the society evoked strong words of reproach from the Delhi High Court on Wednesday as it pulled up Sanskriti School, primarily catering to children of senior bureaucrats, for making sub-classes even in education. “What do you mean by a parallel school?” a Division Bench of Chief Justice A P Shah and Justice S Muralidhar asked. “The children of...

The Centre today told the Supreme Court it was thinking of making child marriages invalid, taking a step forward against a social evil still deep-rooted in several parts of the country. “The practice of recognising child marriages was intended to protect women. The government is thinking of making such marriages void (invalid),” additional solicitor general Indira Jaisingh said. Under the Hindu Marriage Act, child marriages are recognised as valid, keeping in mind...