It is time for India's government to put its money where its mouth is. New Delhi has raised some $30 billion since March by selling state assets and telecom airwaves. That is about as much as the country will attract in foreign direct investment this fiscal year. There is one area above all else where this money should be directed: food security. New Delhi talks a lot about guaranteeing food for India's...
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India-EU Deal Threatens Mom-and-Pop Retail by Ranjit Devraj
Retail giants pushing the European Union-India free trade deal promise consumers a "new and dynamic retail experience" but ignore the fate of India’s "mom-and-pop" stores and some 40 million people they employ. Four years in the making, the EU-India Bilateral Trade and Investment Agreement made serious headway during Indian Prime Minister Manmohan Singh’s visit to Brussels Dec. 10 and is due to be signed and sealed early 2011. But the negotiations have...
More »Interest-free banking urged
Indian Centre for Islamic Finance delegation makes presentation at Yojana Bhavan The Indian Centre for Islamic Finance (ICIF) has made out a strong case before Prime Minister's Economic Advisory Council member V. S. Vyas for introducing interest-free banking in the country at the earliest to ensure “inclusive growth with innovation” in accordance with the recommendations of the Planning Commission's Raghuram Rajan Committee. An ICIF delegation from New Delhi, led by its general...
More »Monsoon misery by TS Subramanian
Tamil Nadu: The north-east monsoon, 50 per cent in excess in the State, claims over 200 lives and destroys crops and infrastructure.A SERIES of weather systems, including a cyclone that missed Chennai narrowly, saw the skies open up over Tamil Nadu between November 4 and December 5, the period when the north-east monsoon is most active. Most of the 561 mm of rainfall that the State received between October 1...
More »Bengal sits on student benefits by Basant Kumar Mohanty
The Bengal government could have ensured a monthly scholarship of Rs 500 for nearly 22,000 poor schoolchildren in the state over the past three years, without any damage to its own pocket. Instead, it chose to help just about 3,000 get the scholarship.The National Means-Cum-Merit Scholarship, launched in 2008-09, looks to benefit about one lakh Class IX students every year. The State Bank of India pays the entire sum, which...
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