After dedicating most of 2009 to jump-starting financial markets through stimulus packages, developed countries are now turning their attention to reforming the basic architecture of those markets, especially the incentives for risk-taking. In a major step towards regulating systemic risks, the United Kingdom last week announced a one-off 50 per cent “super-tax” on bankers’ discretionary bonuses exceeding £25,000. The move could raise £550 milli on, which would be used to...

There is much about Dubai that is artificial and based on illusion: the man-made islands designed to represent a map of the globe; the indoor ski slope in the midst of desert; the incredible hotel with glass walls looking onto a sea aquarium mimicking the surrounding ocean. Dubai had also become synonymous with excess: building the tallest tower in the world and the biggest and most expensive luxury hotels, residences,...

The rural population is at present estimated at 85 crores. Ten per cent of the households are completely landless. Another 52 per cent have holdings of less than 0.2 hectare. The per capita agricultural land in the rural areas has come down to 0.12 hectare. According to the National Sample Survey, the annual income of an agricultural household from farming is less than Rs 12,000 and from all sources it...

ALAPPUZHA: The State government is contemplating distribution of rice at Rs.2 a kg to all agriculture workers irrespective of whether they hold Above Poverty Line or Below Poverty Line ration cards, Finance Minister T.M. Thomas Isaac has said. Inaugurating the State-level distribution of retirement benefits due from the Kerala State Farm Workers Welfare Fund to 1.84 lakh farm workers at a function at Nedumudi, near here, on Sunday, Dr. Isaac said...

As the Union government prepares to launch an offensive on Maoist revolutionaries, I am reminded of three conversations that I heard or had in Chhattisgarh in the summer of 2006. The first took place in the state capital, Raipur, at the home of the leading Congress politician, Mahendra Karma. Karma was the begetter of the Salwa Judum, a vigilante army that has been responsible for a wave of killings, rapes...