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...

Friday's murder of Brahmeshwar Singh, chief of the outlawed Ranvir Sena (a private army owing allegiance to the powerful upper caste Bhumihars) in Bhojpur, 71 km from Patna, could become a major test for the seven-year-old Nitish Kumar government's continued ability to maintain social harmony in Bihar. Within hours of the killing in the early hours, Singh's supporters went on the rampage, upsetting the delicate caste equilibrium in south Bihar,...

Bihar, which was synonymous with poverty, has emerged as the fastest growing state for the second year running, clocking a scorching 13.1% growth in 2011-12. Not just that, on the back of four years of double-digit growth, its economy is now bigger than that of Punjab—until recently the preferred destination of Bihari migrant workers. Among the top five states, Bihar is followed by Delhi and Puducherry. Mineral-rich Chhattisgarh, which many had...

-The Economic Times Allan J Lichtman's answers are brief and to the point. But by force of habit, he seems to love questions - he answers them animatedly, like professors who are used to keen listeners. This energetic American University professor of history is the one who has predicted correctly the results of all US presidential polls since 1984. "I have always been anxious," says he of the mood in the run-up...