Chief economic advisor to the finance ministry Kaushik Basu says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET: A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth? There is...

Chhattisgarh, long known as the epicentre of Left-wing extremism, clocked the highest growth rate among all states in 2009-10. The emergence of the state as a ‘miracle economy’ is yet to loosen the grip of politics of misery-mongering. Chief minister Raman Singh discusses the state’s growth journey and its challenges with Bharti Jain. Chhattisgarh is the latest growth story, having ranked first among states with 11.49% growth rate. What are...

With Congress president Sonia Gandhi seeking annuity benefits for displaced farmers who surrender their land, the Centre has begun tweaking the resettlement and rehabilitation bill. Ms Gandhi had, on Thursday, said justifiable compensation — on the lines of the Haryana package — be provided to farmers. Senior officials told ET that the Land Acquisition (Amendment) Bill and the accompanying legislation on resettlement and rehabilitation were ready, and rechristened as the...

The World Bank has approved a $220 million credit to support rebuilding efforts in areas affected by the devastating Kosi floods in Bihar. The Bihar Kosi Flood Recovery Project will finance flood recovery efforts through the reconstruction of about 100,000 houses, 90 bridges and 290 kilometres of rural roads, the World Bank said in a statement. It also aims to reduce future oriented risks by strengthening flood management capacity, restoring livelihoods...

Increasingly erratic rainfall patterns related to climate change pose a major threat to food security and economic growth, water experts have said, arguing for greater investment in water storage. In a report by the International Water Management Institute (IWMI), experts said Africa and Asia were likely to be hardest hit by unpredictable rainfall, and urged policymakers and farmers to try to find ways of diversifying sources of water. The IWMI...