Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...

A tussle between the Chhattisgarh government and the Ministry of Environment and Forests (MoEF) over an elephant reserve has reached the Prime Minister’s Office (PMO). And the dispute is emblematic of the way the richly forested state is hurtling to get the developed tag by shaving off its pristine tree cover. Since 2004, the Chhattisgarh government has signed 102 memorandum of understandings (MOUs) with industrial houses for production of steel,...

A businessman I know was approached by representatives of a leading Indian national newspaper and offered a deal: Give us a stake in your company, and we’ll give you advertising space and favorable editorial coverage. A publisher told me that she received a similar proposition: Pay us, and we’ll interview your authors and write features about them. Sushma Swaraj, the parliamentary leader of the Bharatiya Janata Party, has said that...

THE government seems to be considering a new system to replace the present system of targeted public distribution system (TPDS) with food coupons or direct cash transfer. The ills that plague the present TPDS are well-known and well-documented. The two national surveys, one by Programme Evaluation Organisation of the Planning Commission and the other by ORG-Marg, both at the instance of the Union government, have identified the major problem areas...

India’s food inflation slowed as finance minister Pranab Mukherjee said agriculture prices may cool further on prospects of sufficient rains this year. An index measuring wholesale prices of agriculture products including lentils, rice and vegetables compiled by the commerce ministry rose 16.61% in the week ended 17 April from a year earlier. It gained 17.65% the previous week, according to a statement in New Delhi on Thursday. Mukherjee on Wednesday vowed to...