As policymakers gear up for their biggest battle against inflation, worrying signs about India’s boom-boom growth story emerged. The first warning signal went up today with the government’s statistical office announcing that the index of industrial production (IIP) — the broadest measure of plant and factory performance —had grown by a piffling 2.7 per cent in November against a market consensus of 6.6 per cent. The index stood at 317.9 —its lowest...

The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...

If home minister P Chidambaram’s recent letter to West Bengal chief minister Buddhadeb Bhattacharjee is any indication, it has taken the Union home ministry seven years to realise that arming civilians to fight Naxalites is a bad idea. How much longer will it take for them to realise that the current paramilitary-based approach in Chhattisgarh is similarly bound to fail? From 2003 onwards, the home ministry has followed a policy of...

Farmers in West Bengal whose land will be acquired will now get three cottahs of developed land for commercial purpose for every acre of land. This will be in addition to a compensation based on market rate. Even before the Central government came up with a fresh land acquisition Act and rehabilitation policy, the West Bengal government on Thursday announced its new rehabilitation package for the state’s farmers. Commerce and Industries...

The Indian government is exploring a proposal to reduce the limit on foreign direct investment (FDI) allowed in the pharmaceutical industry through the automatic route to 49% from 100% amid concerns over the takeover of local drug makers by overseas firms. Officials from the ministry of commerce and industry and the ministry of health have had multiple rounds of discussions on the proposal following a note written to them by the finance...