Fundamentally, our current crisis in food supplies as well as food prices arises out of the sidelining of Jawahar Lal Nehru’s dictum “everything else can wait but not agriculture”. Unfortunately, the last twenty years have been characterised by very low rates of agricultural growth, averaging around one percent per annum. This is almost equal to the rate of GDP growth during the last half century of British rule. In effect, in...

Despite its slackening industry, the common perception of West Bengal as a backward state has little substance when one looks at the facts. Most of us are conditioned to view economic development in terms of industrialisation. While industrialisation is essential for economic transformation, it is not as if economic growth is not possible without it. The sectoral structure of India's gross domestic product (GDP) and its slow transformation makes a good...

Even though the Central Government agreed to link the wages paid under MG-NREGA to the Consumer Price Index for Agricultural Labourers (CPIAL), it shied away from paying statutory minimum wages in various states of India. Their logic for this: Lack of clarity on who will bear the extra financial burden—the Centre or the states? A letter from the Prime Minister Manmohan Singh to UPA and NAC Chairperson Sonia Gandhi dated 31...

A generally beleaguered microfinance industry was eagerly waiting for Yezdi Malegam for deliverance. Any conversation about the microfinance business would end with the expectation that the Malegam committee would deliver a healthy dose of oxygen to the choking microfinance industry. The report was expected to be the panacea for all that ails microfinance in India. The report, which came out on Monday, disappoints not only in its inability to meet these...

When we hear the word innovation, we often think of new technologies or silver bullet solutions — like hydrogen fuel cells or a cure for cancer. To be sure, breakthroughs are vital: antibiotics and vaccines, for example, transformed global health. But as we’ve argued in Fixes, some of the greatest advances come from taking old ideas or technologies and making them accessible to millions of people who are underserved. One area...