-The New York Times India's coalition government just celebrated the third anniversary of its tenure with a self-congratulatory banquet that could not have been more poorly timed: India's currency, the rupee, is falling; investment is down; inflation is rising; and deficits are eating away at government coffers. While short-term growth has slowed but not ground to a halt, India's problems have dampened hopes that it, along with China and other non-Western economies,...

The chattering classes of urban India are engaged in animated discussions about Didi, scams, policy paralysis , faltering reforms and declining growth. Meanwhile, the farming classes, who haven't seen much reform since the Green Revolution 50 years ago, continue to combine bits of modern technology with their ingenious capacity for 'jugaad' in transforming traditional agriculture. Here are a few examples. The tractor displaced the bullock in ploughing and other farm operations....

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...

75% of the youth. Every third student. 65% of all families in Punjab are in the throes of a sweeping drug addiction. With little or no hope in sight. THE RAILWAY barrier in Angarh, a locality in the border city of Amritsar in Punjab signals the end of too many things. The rule of law. The reign of sense. The fear of crime. The signs of normality. Even the divisions of...

One man’s fiscal problem is another man’s lifeline. Trigger happy bureaucrats and economists may love shooting down subsidies because it bloats the fiscal deficit and burdens the government but the simple fact is that in a one billion strong nation, in which nearly one in every three live below the poverty line, one needs an effective and efficient method through which privileged tax payers can support the poor. Last week, finance...