While monetary policy is an important element of the artillery against inflation — and with the 25 basis point hike, the RBI did part of what it was expected to do to tighten policy — there is the fiscal task too. As Raghuram Rajan, adviser to Prime Minister manmohan singh, points out, the Centre must control expenditure, cut subsidies and not start new spending programmes. Fiscal deficits are large and rising...

Even as the National Rural Employment Guarantee Act enters its sixth year, Bihar Chief Minister Nitish Kumar said in Delhi on Thursday that cash transfers were the answer to the eternal questions about inefficiencies in government schemes. He had tried out direct cash transfers in his effort to give Bihar’s girls bicycles, he said, and discovered that the programme had a “92 per cent success rate”. No programme, he said,...

It is almost two years since the German Government had passed on the names and bank account details of eighteen Indians who had stashed their alleged ill-gotten wealth in the LGT bank of Liechtenstein, a well-known tax haven nation, 190 km from Munich, Germany. Germany had officially handed over the list to the Indian Government on 18 March 2009. Prime Minister manmohan singh and Union Finance Minister Pranab Mukherjee have since...

Prime Minister manmohan singh Wednesday said workers employed under the government's flagship rural jobs scheme, Mahatma Gandhi NREGA, would get higher wages to offset inflation. "We have decided to hike the wages as per the rise in consumer price index. This will raise the wages by 17 to 30 percent," manmohan singh said at a function to mark the fifth anniversary of the National Rural Employment Guarantee Act (NREGA). The gathering...

Advocates carrot and stick formula to ensure compliance Norms must be enforced, which is often difficult, says Prime Minister “Capacity building, key to effective village level planning” In the midst of the raging debate on environment versus development, Prime Minister manmohan singh has warned that enforcement of environmental standards must not signal a return to the licence permit raj era. Addressing the Delhi Sustainable Development Summit organised by The Energy and Resources Institute (TERI)...