Manmohan Singh today refused to yield to pressure on the question of allowing foreign direct investment in retail and appeared ready for a protracted battle, including the risk of a vote in Parliament despite his government’s fragile majority. Somewhat reminiscent of his nuclear deal stand, the Prime Minister confronted those who had accused the government of taking a hasty decision on retail. “We have not taken this decision in haste, but after...

-IANS Finance Minister Pranab Mukherjee on Wednesday met Congress MPs after calling on party president Sonia Gandhi to discuss the standoff over the decision to allow foreign equity in retail.  The government's known troubleshooter held a BRIef meeting with Gandhi at her 10 Janpath residence before meeting party MPs to allay their apprehensions on the decision to allow 51 percent foreign direct investment ( FDI) in multi-brand retail and 100 percent in...

Watching the recent debate on the poverty line has been a depressing experience. As the debate unfolded, we witnessed self-righteous commentators engaged in a game of one-upmanship to prove that no one was more concerned for the poor than they, electronic media failing in its responsibility to inform the public simple facts and the Planning Commission proving itself incapable of communicating in simple terms the rationale behind its proposal either...

-BBC   India's PM Manmohan Singh has defended the decision to open up the retail market to global supermarket chains, saying it will be good for both "farmers and the common man". Mr Singh was reacting to opposition demands to reverse the decision to allow 51% foreign ownership of multi-brand retail stores. Opposition politicians say the move will damage India's small retailers. Parliament has been in uproar and was forced to adjourn again on Wednesday. 'Better...

-The United Nations   Temperatures this year are the tenth highest on record since 1850, and the highest ever in a year which experienced a La Niña event, a meteorological phenomenon which is supposed to have a cooling influence on Earth’s atmosphere, a United Nations agency reported today. The findings are among the highlights of the provisional UN World Meteorological Organization (WMO) Statement on the Status of the Global Climate, which provides an...