Desired outcomes can be reached through a series of ‘imperfect’ small initiatives What is to be done? How can we untie the Gordian knot that has so entangled the political economy of petroleum product prices? This is the question that now exercises our most experienced politicians and our ablest economists. Most well informed people know that a country that imports 80 per cent of its oil requirements cannot de-link itself from the...

-IANS West Bengal Chief Minister Mamata Banerjee Friday conceded that there were 'debt-ridden peasants who contemplated committing suicides'. 'There are many farmers who take loans from money lenders at high interest and when they are unable to repay the money, they contemplate suicide. Do not give up life like that, life is most valuable,' said Banerjee, after giving Kisan Credit Cards to farmers here in the South 24-Parganas district, about 150 km...

Friday's murder of Brahmeshwar Singh, chief of the outlawed Ranvir Sena (a private army owing allegiance to the powerful upper caste Bhumihars) in Bhojpur, 71 km from Patna, could become a major test for the seven-year-old Nitish Kumar government's continued ability to maintain social harmony in Bihar. Within hours of the killing in the early hours, Singh's supporters went on the rampage, upsetting the delicate caste equilibrium in south Bihar,...

-Reuters SUPALI: Two years ago, Vilas Yelmar took out a 200,000 rupee ($3,610) bank loan to develop a small grape orchard in a dusty hamlet southeast of Mumbai. The bank has repeatedly asked for the loan to be repaid, but Yelmar, whose annual income has risen to 2 million rupees, has spent the money on a new sport utility vehicle and a lavish family wedding. He is one of an increasing number...

Farmers, whose land was acquired at a meagre Rs. 4 per square yard in South West Delhi way back in 1955 in the name of undertaking planned development, have now seized upon the opportunity raised by the report of the Comptroller and Auditor General of India — on the loss caused to the exchequer by leasing away of some of this very land by Indira Gandhi International Airport concessionaire Delhi...