Record high food prices are putting added pressure on the United Nations agency that helps feed nearly 100 million of the world’s poorest people, with officials warning of a potential “perfect storm” combination of soaring costs, weather emergencies and political instability. “We are on red alert and we are continually assessing needs and reassessing plans and stand ready to assist,” UN World Food Programme (WFP) Executive Director Josette Sheeran told the...

Corruption and inflation, the bugbears of UPA-2, dominated discussions Congress functionaries held with finance minister Pranab Mukherjee amid expectations from the party that a populist Budget would help check the negative tide against the Centre. Party leaders are hoping specifically for Income Tax relief for the middle class and concessions for rural populace as the budgetary antidote to the negativity post-2G spectrum scam. Mukherjee assured his party that prices would come down...

The former Chief Justice of India, K.G. Balakrishnan, who is currently the chairman of the National Human Rights Commission has objected to disclosing his income in the past five years as sought by an applicant under the Right to Information Act. Following his objection, the Income Tax Department has rejected the application made by T. Balachandran of Kochi. Dr. Balachandran had sought from the department certified copies of the income returns...

I was awakened early one morning recently by someone who said he was enormously enjoying my on-going debate on economic growth in India. I was very pleased that I had given someone some joy, but I also wondered what on earth he could be talking about, since I have not been involved in any such debate. As it happens, I am getting a steady stream of telephone calls and electronic...

The Naveen Patnaik Government has made a major course correction in its populist scheme.   The rice Rs. 2-a-kg scheme would no longer include a privilege section - the above poverty line (APL) families in the backward KBK region. The privilege section enjoying the largesse included Income Tax payers, members of royal families, ministers, MPs, MLAs, government officials and big businessmen. Though belated, the decision will save about Rs. 34 crore to the...