-The Business Standard   Finance Minister Pranab Mukherjee explained the government’s helplessness over inflation in the Rajya Sabha with great eloquence on Thursday. Much of what he said may have solid economic fundamentals, but the United Progressive Alliance (UPA) government cannot claim helplessness forever — not when the signs of the cracks it is creating in India’s rural prosperity are becoming so obvious. If any one thing that has protected the Indian...

Some time ago, newspapers in Britain carried full-page advertisements from the curiously named British Pig Association. This consortium of pig farmers was clamouring publicly that the supermarket chains were squeezing the farmers dry. Alongside them, Britain’s dairy farmers complained that a supermarket cartel was paring down their prices, while production costs went up and up. These farmers too have powerful lobbies; they are still in business. To this end, Britain, like...

U.P.'s GDP grew at 7.28 per cent in the past five years, but the State ranks low in virtually every area of socio-economic development. IF statistics on gross domestic product (GDP) are the only criteria to evaluate the performance of a government, the Mayawati-led Bahujan Samaj Party (BSP) government in Uttar Pradesh will have to be rated as one with highly impressive credentials. For, India's most populous State has recorded a...

India’s per capita availability of water, on the basis of the 2011 population census, has fallen below the global threshold, signalling that the country will have to address conservation needs more seriously amid a growing population and an expanding economy. India’s per capita availability has been pegged at 1,545 cubic metre a year, including non-personal consumption, such as irrigation, according to an estimate of the water resources ministry — notches below...

With only three more days of negotiations to go, UN chief Ban Ki-moon says agreement may be 'beyond our reach – for now' A global legally binding deal on climate change is likely to be off the table, at least "for now", the United Nations secretary-general has said in his most downbeat assessment of the talks. Assessing the nine days of negotiations at Durban so far, Ban Ki-moon told delegates: "It may...