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...

Weather conditions promoting El Nino persistent, says Met department; drought feared In its first monsoon forecast in late April, the India Meteorological Department (IMD) had announced that monsoons would be normal this year and there was a little chance of El Nino—associated with dry spells west of the Pacific—arriving in the second half of the season. But of late, IMD seems to have shifted its stand. Now the weather agency is...

-The Hindustan Times A magistrate court in Bina, Madhya Pradesh, directed the information and broadcasting ministry to stop telecast of the godman Nirmal Baba’s programme ‘Nirmal Darbar’ till further orders. The court also issued an arrest warrant against Nirmal Baba on Saturday. If legal action is not taken against such persons, common people would be asking us – does law exist only for weak or the poor? It is duty of...

-The Business Standard Planning for deficient monsoon must begin Now that the India Meteorological Department (IMD) has endorsed the fears expressed earlier by foreign weather bureaux about the emergence of the monsoon-unfriendly El Nino in the second half of the season, the government should begin preparing right away for mitigating its adverse impacts on agriculture, water reservoirs and other areas. El Nino, an anomalous rise in sea surface temperature off the...

-The Economic Times The government has removed roadblocks to coal mining by leading business houses and taken the first step to relax scrutiny of corporate expenditure on oil and gas fields, in a burst of action that has cheered investors and industrialists in the languishing energy sector. A group of ministers recommended to the cabinet on Wednesday that Reliance Power's Chhatrasal block, which is attached to the 4,000 mw Sasan Ultra Mega...