The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...

It is getting harder for jobseekers to return to gainful employment and for new entrants to find adequate jobs, says the ILO. THERE is little in the International Labour Organisation's (ILO) annual projection of job growth to cheer about. The year 2012 has been described as a year of stark reality. A third of the global workforce is currently unemployed or poor; that is, 200 million members of the 3.3-billion-strong global...

The power of judicial review envelopes natural resource distribution The tsunami created by the 2G spectrum judgments of the the Supreme Court last week has almost mopped up the ripples they made in the legal sphere. However, they deserve respectful consideration for their discussion on two hot issues that have been agitating public mind in recent years. The first is the nature and ownership of natural resources, like air waves and spectrum,...

Central pension plan NPS finally gets a boost The ‘New’ NPS     Measure: Improve incentives for distributors. Has been recently implemented.     Impact: Was required. But won’t be enough, need consumer education to build volumes.     Proposal: Increase fund management fees with an option to lower later.     Impact: Under consideration. But finance ministry unhappy with increase in costs.     Proposal: Relax the norms to appoint more fund managers to increase distribution.     Impact: Unlikely. At...

Sending a clear message that the 2G spectrum allocation of 2008 is a scam and not the result of a government policy decision, the Supreme Court today quashed the grant of 122 UAS licences and allocation of spectrum to 12 private companies. Even as the trial in the 2G case progresses in a Patiala House trial court in Delhi, a bench of Justices G S Singhvi and A K Ganguly held...