The Prime Minister's economic adviser, C Rangarajan, wants the Reserve Bank to remove excess money from the system to check rising prices as food inflation neared the decade's high of 20 per cent. "We need to see that liquidity does not put inflationary pressures and for that some action on the monetary front would also be required," said Rangarajan, Chairman of the Prime Minister's Economic Advisory Council (PMEAC) and a former...

India achieved the distinction of being the second fastest growing economy amid the global recession in 2009, but the joy was marred by the decade’s sharpest rise in food prices to the chagrin of common man. For a country that continued to lose on its exports throughout the year that has gone by, economy achieved a remarkable growth of about 7% (during April- September 2009) on the back of focused government...

The Indian economy should recover from the recession caused by the global meltdown. India’s exposure to the world economy is quite limited. It is mainly through the exports market and partly through foreign investment flows either as equity or debt capital that financed private investment. The extent of the dependence, however, is quite low. The recession in the exports market affects only few sectors, such as textile and labour-intensive manufactures...

THANTIRAYANKUPPAM, INDIA — Five years ago, I woke up on a Sunday morning, checked the news online and saw that a tsunami had hit my part of the world. Early reports were sketchy. I read about just a few casualties (in Sri Lanka, as I recall), and I remember thinking that the whole thing sounded exciting. I went down to the beach, about a 15-minute drive from my house. I walked...

The following piece was written for the UNIDO’s General Conference that took place in Vienna this month but could not be carried by any of the international papers because of a slight delay, although some feel its contents may not be ideologically palatable to them. Hence it is being carried here for the benefit of our readers. —Editor A highly positive sum game awaits the community of nations if an internationally...