Global business abhors uncertainty. The ministerial-level corruption in UPA-II has slowed FDI and FII inflows. The stock market, despite double-digit corporate profit and 8.6% GDP growth, reflects the anxiety of Indian and foreign investors. To take India's growth story forward in the 20th year of economic reforms, political reforms must catch up. Misgovernance won't do in a globalised, interconnected world. Two kinds of political corruption blight India: episodical and ongoing. Episodical...

Food inflation, hovering in the double digits, may play spoilsport to India’s ability to continue its rapid economic growth. It is truly troubling that food still consumes half of the expenditure of the average Indian household. No wonder a sharp spike in onion prices has the potential to upset the political calculus of social stability. India’s biggest challenge still remains ensuring food and nutritional security to its masses. Notwithstanding the nation’s...

The National Advisory Council (NAC) has now sketched out the “contours of a national food security bill”. The goal is worthy: “Protecting all children, women and men from hunger and food deprivation.” To some, the bill might appear utopian. The truth is worse. The bill reminds us of John Stuart Mill’s denunciation of a government policy of his day: “What is commonly called Utopian is something too good to be...

Activists hope that a popular agitation against the setting up of a factory to manufacture asbestos products in the eastern Bihar state will result in a nationwide ban on the large-scale import into this country of the deadly mineral fibre. Following six months of agitation against the setting up of the factory in the Chainpur-Bishunpur area of Bihar’s Muzzaffarpur district, state chief minister Nitish Kumar sought to lay blame on the...

Indian Home Minister Palaniappan Chidambaram is the nation's domestic security chief, overseeing a broad portfolio that includes battling a homegrown Maoist insurgency and routing out terrorists. The 65-year-old, a veteran of the ruling Congress Party who previously held senior economic posts and played a key role in the country's post-1991 liberalization, is considered a future contender for the post of prime minister. Recently, he spoke to The Wall Street Journal. Here...