A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...

How an image-fixated chief minister has bent the state’s media to his will If you haven’t heard of an income tax raid on the residential premises of Nitish Kumar’s close aide and treasurer of the ruling Janata Dal-United (JD-U), Vinay Kumar Sinha, you are not alone. Thanks to the local media, it took a while even in Patna—where the house is located—for people to get to know. This, incidentally, is the...

-The Times of India   The RTE Act is an opportunity to break gender, caste, class and community barriers that threaten to damage the social fabric of our democracy and create fissures that could be ruinous to the country, writes Union HRD minister Kapil Sibal. The Supreme Court judgment upholding the constitutional validity of the Right of Children to Free and Compulsory Education (RTE) Act has once again focused public attention on education....

If this doesn’t raise a national stink, little else will. Around 3.5 crore toilets are missing in India, if official statistics are not meant to be flushed down the drain. The Union rural development ministry claims its Total Sanitation Campaign (TSC) has delivered more than 8.71 crore latrines to households across villages over the past decade. But household data from the population census shows that only around 5.16 crore households had latrines...

-PTI While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages. "Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum...