Larry Summers, the recently departed Chairman of US President Barack Obama’s National Economic Council, posed the following question before his trip to India last November: “What is the self-perception of the Congress as a political party?” In fact, this broad question provokes three specific ones in the domain of economics. Is the Congress the party of Jagdish Bhagwati or Amartya Sen; Nehru or Indira Gandhi; or Aruna Roy or Nandan...
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Fertilizer subsidy: what is good for the farmer and the farm? by Raghuvansh Prasad Singh
Is the chemical fertilizer-based food production system sustainable? As a result, what happens to the soil and the larger issue of food security? After a raging debate, the government finally decided to hike the chemical fertilizer subsidy, to catch up with spiralling fertilizer prices in the global market. Also, there is talk about bringing urea under the Nutrient Based Subsidy (NBS) system and decontrolling its prices. Obviously, the fertilizer industry...
More »Ex-CJI's 3 kin found in possession of black money: I-T department
In further embarrassment to former Chief Justice of India KG Balakrishnan, Income Tax authorities on Saturday said they have unearthed black money in possession of three of his relatives during their investigation into allegations of amassment of wealth by them. "As far as Justice Balakrishnan is concerned, I cannot say anything. But as far as his relatives-- two sons-in-law and brother are concerned, we have found there is black money", director...
More »How not to tackle the black economy in India by Arun Kumar
Technically, we know how to check the black economy but the problem is political. More studies or committees and treaties with foreign governments are only to stall action. Another Joint Parliamentary Committee has been announced. The government has been trying to create an impression of being proactive with regard to tackling the black economy. The President's address and the speech by Sonia Gandhi in January mentioned the need to curb it....
More »The cash option by Jayati Ghosh
Cash transfers, the latest global development fashion, involve several risks in India, not least the risk of forgetting the need for continuing structural change. WHEN I was growing up, several decades ago, middle-class society in India was always a little delayed in catching on to Western fashions whether in music or dress or in other aspects. The past decades of globalisation seemed to have changed all that. Modern communications technology...
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