TARN TARAN, India—India's northern state of Punjab was once a symbol of the nation's economic progress, its advances in agriculture lauded world-wide as a spectacular feat that made India self-sufficient in food production. But Punjab today faces a grave economic crisis, the result of years of shoddy governance that have stunted growth and created such a mound of public debt that the state is now seeking a multibillion dollar bailout from...

Participants at a United Nations summit today outlined a 10-year plan to support the world’s most vulnerable countries overcome poverty, calling on the private sector to play a greater role in the fight, urging wealthy nations to step up their aid commitments and demanding the elimination of many trade barriers. The Istanbul Programme of Action to spur development and economic growth was made public at the end of the Fourth UN...

Over a dozen students of the Tata Institute of Social Sciences today boycotted their annual convocation while others handed badges that read “No to Nuclear Energy” to chief guest Jairam Ramesh in protest against the Jaitapur power project. A group of 22 students, who had visited the seven villages in Maharashtra’s Ratnagiri district that will be affected by the 9,900MW nuclear plant, also presented the environment minister with a fact file...

Archaic labour laws are not affecting India's manufacturing sector as much as problems related to land, water, licences and clearances, a government panel's study shows. With the findings of the Planning Commission study, changing rigid labour laws, so far suspected to be the main hurdle before the manufacturing sector, is likely to drop on the government's list of priorities. The sector contributes 15% to India's GDP. "Against popular perception, we...

Small and medium enterprises (SMEs) have blamed the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) for shortage of labour, which has led to increase in input cost of the products and eating into profit margins. "Now a days there is scarcity of labourers by 25 to 30 percent in SMEs. There is a high percentage of unskilled labour, which forms the core of employee recruitment in the local small and...