The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...

Food prices in India have risen to a high of nearly 20% over last year, the highest rate in a decade. The federal finance minister Pranab Mukherjee has said the government was planning to import food to ease prices. A short supply of food due to lower farm produce following drought and floods has led to the rising prices. Overall inflation in India has risen to 4.78% in November, up from...

Unrelenting protests against Price Rise by a united Opposition forced the adjournment of the Lok Sabha today after MPs accusing the government of inaction disrupted scheduled discussions. MPs from all non-UPA parties, including the Left, BJP, Samajwadi Party, Janata Dal (United), Biju Janata Dal, Akali Dal and the Shiv Sena, started raising slogans against the government in the House. Opposition MPs also marched in front of Parliament House — inside the complex...

After a gap of almost a decade, all the nine major trade unions on Wednesday jointly staged a dharna in front of Parliament to protest against Price Rise, job loss, and disinvestment of public sector undertakings. This is the first time that the Congress-led INTUC has joined hands with All India Trade Union Congress (AITUC) and CITU, besides HMS and BMS. The All India Bank Employees Association’s agitation also coincided with...

India needs to initiate a number of steps to manage the emerging situation.  After three consecutive good years, agricultural production has faltered in the last two years. There was a fall in production to the tune of 1.6 per cent in 2008-2009 compared to the previous year. This year, again, agricultural production is likely to be down by 2 per cent or more. The deceleration in the growth of foodgrain...