A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...

-The Economic Times The Supreme Court has upheld the constitutional validity of the Right to Education (RTE) Act. Constitutional validity does not mean sense - after all, being stupid is not illegal. Public opinion is most exercised about all schools, even those that get no aid from government, being asked to provide 25% of their seats free to poor students.  The court has pronounced this a blow for affirmative action. Private schools...

-The Telegraph The Union urban development ministry has proposed three new taxes on private vehicle owners: on vehicle purchases, petrol and insurance. The aim is to fund public transport in cities and deter the use of private vehicles The Rs 40,000 crore that the ministry proposes to raise annually through the “green surcharge”, “green cess” and “urban transport tax” is to go to a national urban transport fund that will finance transport schemes. Urban...

When the fledgling Indian government drafted its higher education policy after Independence, it formed two separate tiers for teaching and research: colleges and universities in one, exclusive research establishments in the other. The intention was of the noblest, to deploy our best talent exclusively to create an indigenous knowledge pool; in particular, to provide research input for the nation’s development. Sixty years down the line, the outcome has patently failed those...

The arrest of Syed Mohammad Ahmad Kazmi in connection with the bomb attack on an Israeli embassy car raises many questions. AN uneasy silence fills the streets of B.K. Dutt Colony near the All India Institute of Medical Sciences in New Delhi. Named after the revolutionary freedom fighter Batukeshwar Dutt, who, along with Bhagat Singh, threw bombs in the Central Legislative Assembly on April 8, 1929, the nondescript colony has been...