The spectre of inflation has returned to haunt India. It is not even six months since the United Progressive Alliance (UPA) government returned to power but its inability to control food prices is arguably its single biggest failure till now. The inflation rate will eventually come down sometime in the (hopefully) not-too-distant future and the government will surely take credit for bringing prices down as and when that happens. But...

Here’s a hypothetical, though not altogether unfamiliar, scenario that academic and writer Sunil Khilnani invoked in a lecture at the British Museum to warn against what he called the “paradox of India’s new prosperity.” He asked his audience to imagine two traffic lanes, both at a standstill. After a while traffic in one of the lanes starts moving raising hopes of those stuck in the next lane that they, too,...

A commission set up to look into alternative ways of measuring economic and social progress has added to the existing debate but not made any real advances.  FOR some time now it has been clear that standard measurements of growth and development are inadequate and possibly even misleading. The problem of looking at only the aggregate gross domestic product (GDP) has been widely noted: its blindness to distributional issues and...

Southern Kerala state is known for the lush expanses of cardamom, pepper, tea and rubber that grow on its misty hills, and the bountiful catches of fish on a coastline punctuated by lagoons and backwaters. But a cloud in the form of a a free trade deal with the Association of Southeast Asian Nations (ASEAN) bloc hovers over this picture of plenty. With the Indo-ASEAN Free Trade Agreement (FTA) now...

Before tinkering with the NREGA in the name of reforms, the government must ensure that the foundations of the scheme are strengthened. No change should be introduced without a rigorous debate that centrally involves its primary constituents.  As the Union Ministry of Rural Development attempts to craft the architecture of what is being referred to as “NREGA 2,” the principles that constitute the basic foundation of the National Rural Employment...