The Union finance ministry’s mid-year fiscal Review, tabled in Parliament last week, notes very correctly that the “current period represents a crossroads for the Indian economy”. Having weathered the global economic downturn, the Indian economy has performed better than expected. Hence, the Review’s upbeat tone is understandable. Yet, the Review offers an honest account of the challenges ahead, hence the view that India is at a crossroads. Much of the...

BEFORE ANY debate starts, we must remind ourselves that India has a tendency of corruption. India, though a democracy, has a history of reported corruption cases. While the Chief Justice of India, KG Balakrishnan, has demanded that PM Manmohan Singh amend the RTI Act to ‘protect’ the judiciary from ‘intrusive’ queries, what needs to be kept in mind is that the proposed amendments will totally defeat the purpose of an...

India needs to initiate a number of steps to manage the emerging situation.  After three consecutive good years, agricultural production has faltered in the last two years. There was a fall in production to the tune of 1.6 per cent in 2008-2009 compared to the previous year. This year, again, agricultural production is likely to be down by 2 per cent or more. The deceleration in the growth of foodgrain...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline from...

At a time when there is growing concern about the causes of increasing discontent and alienation among tribals, it is important to recall a very important law for improving the governance of the Scheduled Areas in such a way as to protect the interests of tribals. The reference here is to the Panchayats (Extension to Scheduled Areas) Act 1996 (briefly called the PESA law). If this Act had been properly...