With 130-140 million Indians likely to move to cities in the next decade and an equal number in the one after that, the development of urban India represents the biggest challenge you can think of -- in the next two decades, India will have to create as many new cities as it created in the last several hundred years. Alternately, the existing cities which are home to around 285 million people...

Democracy and free market have fused into single predatory organism: Arundhati Roy  MoUs with transnational firms resulted in tribals moving out of their lands: Arundhati Roy The problem of market externality poses systemic risks: Chomsky “What happens, now that democracy and the free market have fused into a single predatory organism with a thin constricted imagination that revolves almost entirely around the idea of maximising profit,” asked author Arundhati Roy at a...

Kaushik Basu, the current Chief Economic Adviser to the Ministry of Finance, had a 15-year-long stint as Professor of Economics at Cornell University. The Padma Bhushan awardee has been working closely with the Finance Ministry and the Prime Minister to chart the country’s future growth path. He spoke to MANAV CHOPRA about the need for better monitoring to ensure growth doesn’t happen at the expense of social justice. Excerpts: A common...

WELL before Budget 2010-11 was presented, inflation had emerged as the principal economic problem in the country. With food-price inflation running at close to 20 per cent, even the United Progressive Alliance (UPA) government at the Centre had been forced to recognise it as a problem that deserved as much attention as the objective of achieving a 9 or 10 per cent rate of growth, if not more. In fact,...

The Central budget of 2010-11 is a further step in the realisation of a vision of India vibrant with the income, wealth, saving, education and the entrepreneurial energy of the top 5-10 per cent of the population and the rest of Indians, serving that minority and surviving as barely literate, malnourished multitude.  With the accession of Rajiv Gandhi to power, a vision began to germinate. That vision was that of...