-The Indian Express   Pranab Mukherjee should use his waking hours to signal bold reforms Until a few years ago no one really thought that governments could go bust. But the deepening sovereign debt crises of Europe have now persuaded us that governments can go bust if their debt levels cross a certain danger mark. What is that danger mark remains a matter of research by economists around the world. Some studies have concluded...

-PTI Faced with subdued revenue mop-up and rising fiscal deficit, Finance Minister Pranab Mukherjee today said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12. "As Finance Minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," said Mukherjee, who is engaged in the process of firming the Budget for 2012-13...

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...

Deadwood in the Indian bureaucracy will not be able to clog the government any longer. The Centre has notified a rule making it compulsory for IAS, IPS and officers from other all-India services to retire in "public interest" if they fail to clear a review after 15 years of service.  Officers adjudged as inefficient and non-performing will be shown the door and even those who make the cut will need to...

-The Telegraph Non-performing babus can lose their jobs after 15 years — instead of 30 now — following a change in rules by the Centre. All officers of the All India Services, which include the Indian Administrative Service, Indian Police Service, Indian Foreign Service and the Indian Revenue Service among others, will be covered by the rules notified last week by the department of personnel and training after consultation with the states. Under...