West Bengal chief minister Mamata Banerjee on Monday appointed a two-member expert committee to formulate a new land policy of the state government. Reiterating her known stand against forcible acquisition of land, Ms Banerjee said: “There is much confusion over the issue of land acquisition. Our government has decided to have a new land policy which will help us prepare a land bank.” Significantly, the earlier Left Front government which...

The current perception that cash transfers can replace public provision of basic goods and services and become a catch-all solution for poverty reduction is false. Where cash transfers have helped to reduce poverty, they have added to public provision, not replaced it. For crucial items like food, direct provision protects poor consumers from rising prices and is part of a broader strategy to ensure domestic supply. Problems like targeting errors...

-The Business Standard   Concerned over rising inflation, the Inter-Ministerial Group (IMG) today suggested opening up multi-brand retail to foreign investors and changes in agriculture marketing laws to check the rate of price rise. “We are taking a clear position on Foreign Direct Investment (FDI) in multi-brand retail. Of course, it is a recommendation, not policy,” said chief economic advisor and IMG chairman Kaushik Basu. The IMG, he added, favours formulation of a...

A spoon, 25 grams of dal, half a slice of bread, some washing powder and a torn piece of kurta, in total worth Rs 20. That is what three key National Advisory Council members -- Jean Dreze, Aruna Roy and Harsh Mander -- brought for the deputy chairman of Planning Commission Montek Singh Ahluwalia on Monday protesting against the Rs 20 per day person expenditure poverty line it has decided...

TARN TARAN, India—India's northern state of Punjab was once a symbol of the nation's economic progress, its advances in agriculture lauded world-wide as a spectacular feat that made India self-sufficient in food production. But Punjab today faces a grave economic crisis, the result of years of shoddy governance that have stunted growth and created such a mound of public debt that the state is now seeking a multibillion dollar bailout from...