MANMOHAN SINGH AND ECONOMICS Sanjaya Baru’s article "The economist as saviour", an account of Prime Minister Manmohan Singh’s economics could have juxtaposed specific issues of economic policy with Dr. Singh’s stance on them. Sanjaya Baru’s article “The economist as saviour” (editorial page, The Hindu, July 4, 2012), an account of Prime Minister Manmohan Singh’s economics could have juxtaposed specific issues of economic policy with Dr. Singh’s stance on them. What we...

-The Hindu Unsustainable import competition and the end of the investment subsidy that the sale of under-priced resources provided to Indian companies are the main reasons why the economy has slowed down What has been called the ‘golden age’ of India’s economic growth was underpinned by global integration, high rates of investment and savings growth and low current account deficits. The slowdown is characterised by a sharp deceleration in investment growth on...

The NAC lies defanged; the markets leap for joy at Manmohan’s & Co’s charge of a ‘new’ economy How swiftly things change. Just a month ago, the great Indian growth story was being written off. Now, the “new economy”, run by the PM-cum-FM, will sift through the rubble of under-seven per cent growth, find the hidden springs of recovery and throw in some reforms for good measure. A top taxman says...

Model community forestry initiatives in Orissa are defying Forest Department efforts to control and exploit the region’s forests. ‘Heaven is a forest of miles and miles of Mohua trees / And hell is a forest of miles and miles of Mohua trees with a forest guard in it!’ Thus goes a song of the Muria Adivasis in the forests of Bastar in central India. Encapsulated in this simple expression, however, is...

-The Times of India LUCKNOW: Having invited comparisons with Mayawati's profligate ways, a rattled UP chief minister Akhilesh Yadav on Wednesday reversed his decision to allow all legislators to purchase four-wheelers worth up to Rs 20 lakh by dipping into their local area development fund.  This is the second time in three weeks that Akhilesh has been forced to revoke his decision within 24 hours. Last month, he rescinded his order of...