A widening corruption scandal that has touched India’s prime minister sent the country’s stock markets down sharply on Friday and threatened to tarnish the country’s image as a rising economic power. Setting off the turmoil was a report from the country’s auditor earlier this week that about $40 billion in wireless spectrum license fees had been squandered by the government’s telecommunications and information technology minister. On Thursday, India’s Supreme Court criticized...

KEY TRENDS   • Section 105 of the Right to Fair Compensation and Transparency in the Land Acquisition, Rehabilitation and Resettlement Act, 2013, which provides for excluding 13 Central legislation, including Land Acquisition (Mines) Act 1885, Atomic Energy Act, 1962, Railway Act 1989, National Highways Act 1956 and Metro Railways (Construction of Works) Act, 1978, from its purview, has been amended for payment of compensation with rigours $ • The amendments have now...

Even as India once more self-declares its “arrival on the world stage” with a symbol for the Indian rupee, a global assessment presents a depressing picture of India’s actual economic performance. In a study whose conclusions were to be expected, the Oxford Poverty and Human Development Initiative (OPHDI) has revealed that an appropriate index of poverty (and deprivation) finds its incidence in India and elsewhere to be much greater than...

Aruna Roy, the prominent political and social activist who spearheaded the campaign to institute the Right to Information Act in the 1990s, is an ardent critic of the anti-people and exclusionary policies of the first and the second United Progressive Alliance governments. A recipient of the Ramon Magsaysay Award for community leadership in 2000, she heads the Mazdoor Kisan Shakti Sangathana (a trade union of workers and peasants) in Rajasamand, Rajasthan,...

The philosophy of self-aggrandisement defies social logic. Seven leading banks in the United States of America had last year incurred an aggregate loss of $82 billion; the chief executive officers of these banks nonetheless claimed and collected annual bonus to the extent of $38 billion. The economy might lie in ruins; that did not distract sharks from zooming in on their prey. Our corporate sector has shaped itself in the...