What is our national aim? To my mind, our national aim must be to make India a highly prosperous country for its citizens, and for that it is necessary to have a high degree of industrialization.  Even setting up and running a single primary school requires a lot of money, e.g. for buying land, erecting the school building and providing for the recurrent expenditure for salaries of teachers, staff, etc. We...

-The Times of India   After debating the issue for over a decade, the government on Thursday threw open the multi-brand retail segment to foreign chains such as Wal-Mart, Carrefour and others in a move to attract overseas investment and dispel doubts about the coalition's ability to push through big-bang reforms.  After nearly two hours of discussion on Thursday evening, the Union Cabinet decided to allow foreign retailers to hold 51% stake in...

The audience, organisers, and fightersknow that sham wrestling is not to betaken seriously. But the World Economic Forum takes itself seriously. The comforting thing about the sham wrestling ‘championships' on television is that everybody knows they are a farce. Steroid-stuffed Cro-Magnons stomp the living daylights out of painkiller-primed Neanderthals. Good, unclean fun. The results are safely predictable. You should expect the 600-pound gorilla to overwhelm the 900-pound one in a staggering...

Recent events in south Asia have led to an unexpected reversal in the narrative of microfinance, long presented as a development success. Despite charges of poor treatment of clients, exaggeration of the impact on the poorest as well as the risks of credit bubbles, the sector can play a non-negligible role in reaching financial services to low-income households. In regulating the sector, there is need for caution in setting interest...

My attention was drawn to “An Open Letter to the Chief Minister of West Bengal” which was signed by thirty members of the civil society of Kolkata and Delhi. What disturbed me was the tone and tenor of the language used in the letter in denouncing Ms Mamata Banerjee’s bold initiative in inviting the Maoists of Junglemahal for a dialogue after “ceasefire”. May I ask with all humility who among the...