In the good old days, there were the Asian Games under Indira Gandhi. Inaugurated by the Empress on her own birthday, November 19, 1982, they seem like a fairy tale now. No leaking roofs weeks before the show; no front-page shockers about crores paid to shady firms; everything going like clockwork under Her Majesty’s eagle eye. Definitely no portly, shifty-eyed Suresh Kalmadi. At that time, there was no Organising Committee. Under...

One of the most intriguing features of India's agrarian economy in recent years is the persistence of agrarian distress in many regions, even while agricultural credit flow has risen sharply. Rising flow of credit to agriculture is normally associated with buoyancy in the farm sector. A closer look at the data on agricultural credit reveals that what is termed agricultural credit may have very little to do with agriculture, the...

The growing economy has spun a wheel of fortune for Indians, with high income households outnumbering those in the low category for the first time at the end of 2009-10, according to estimates made by think-tank NCAER. India has 46.7 million high income households as compared to 41 million in the low income category, the National Council of Applied Economic Research (NCAER) estimates on Earnings and Spendings have revealed. "For the first...

The Government of India’s initiative to focus on agricultural development in the eastern states, as represented by the meeting that the Union ministers for finance and agriculture attended in Kolkata last week, is welcome if belated. Some may see this as a pre-election gimmick with an eye to elections in Bihar and Bengal. But there is no gainsaying the fact that the region’s agricultural economy needs a productivity boost. Among...

For LPG and kerosene subsidy, government has to make up from petrol, says Montek Singh Ahluwalia he government should use its money on building schools and hospitals than subsidising oil companies, which were making huge profits because of grant, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said. “The profits shown by the oil companies are largely due to subsidies. We are not supposed to be subsidising the oil companies ... we...