-The Economic Times Economic growth produces prosperity as well as garbage. The faster the economy grows, the more its people consume, and the more garbage they generate. When economic growth is sustained over a long period of time, garbage starts to pile up at a faster pace. Garbage just cannot be wished away even as some of us can move around it with eyes wide shut. It needs to be collected,...

A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...

The Centre has cited three shortcomings in the implementation of the rural job scheme in Bengal and linked the next instalment of grant to the resolution of the problems. In a letter sent to chief minister Mamata Banerjee yesterday, Union rural development minister Jairam Ramesh has identified the critical areas as low completion rate of works, delay in e-transfer of wages and inadequate action on complaints of irregularities. “Let me make it...

Rural India has been denied access to globalisation, penalising farmers and farm labour. For the farmer, the government's policy is best described as Dhritarashtra's embrace. After the Mahabharata war was over, the old king met his nephews, the victorious Pandavas, and embraced them, one by one, in a gesture of forgiving and affection. When, Bhima's turn came, the loving embrace was so tight that it crushed a metal dummy of the second...

-PTI While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages. "Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum...