-The Indian Express Last week, India and the US reached an understanding on working out a "permanent solution" to the issue of public stockholding for food security purposes at the World Trade Organisation (WTO). The deal is seen as a breakthrough, ending the impasse that had stalled the implementation of a landmark Trade Facilitation Agreement (TFA) hammered out at the WTO's ministerial conference in Bali last December. * What is this deal...

-Economic and Political Weekly The current regime seeks to reform labour laws with the understanding that these reforms will improve industrial growth and expand the possibilities of enterprise. However, there is already ample evidence from within India that this obsession with reforming labour law, particularly in the way the government has done it till now, will not take us any closer in creating more jobs or a healthy industrial sector. These...

-The Times of India NEW DELHI: Top selling medicine brands for stress, hypertension, HIV, pain and pneumonia may soon become cheaper. The drug price regulator National Pharmaceutical Pricing Authority (NPPA) is set to bring in at least 100 new drugs under price control to include combinations, dosages and strengths that are commonly prescribed by doctors and sold by pharmacists. For instance, currently only one strength of Paracetamol is under price control, whereas...

-Business Standard Between April and September 2014, the central govt released Rs 13,618 cr to states, against Rs 24,676 cr in the same period last year Kolkata: The Union government has severely cut the funds for Mahatma Gandhi National Rural Employment Guarantee Act, one of the largest job-creation programmes in the world, even as it deliberates on framing new norms for it. Compared to last financial year, there has been nearly a 45...

-The Times of India Jagdish Bhagwati and Arvind Panagariya, hereafter BP, have argued for phasing out the National Rural Employment Guarantee Act in favour of cash transfers ("Rural Inefficiency Act", ToI, 23 October). It's surprising-and amusing-that two eminent economists have chosen to make a case based on prior beliefs and some sophomoric wordplay ('mis'leading economists), rather than on the available evidence. A survey by one of us of the empirical literature...