Chief economic advisor to the finance ministry Kaushik Basu says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET: A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth? There is...

With Congress president Sonia Gandhi seeking annuity benefits for displaced farmers who surrender their land, the Centre has begun tweaking the resettlement and rehabilitation bill. Ms Gandhi had, on Thursday, said justifiable compensation — on the lines of the Haryana package — be provided to farmers. Senior officials told ET that the Land Acquisition (Amendment) Bill and the accompanying legislation on resettlement and rehabilitation were ready, and rechristened as the...

The other day, I met a few carpet manufacturers from Mirzapur who were fuming about the state of affairs there. “In spite of the best weaving wages that we’re able to pay, far too many weavers have now turned to other jobs,” one complained. The recession in the West led to a massive slowdown in carpet exports, reducing the number of orders for weavers. Many found alternative jobs under the...

Health experts from more than 100 countries gathered in Bangkok today under the auspices of the United Nations World Health Organization (WHO) to discuss ways to make life-saving medical equipment more accessible to people in developing countries. “The medical device industry holds great promise for public health, sometimes spectacular promise, sometimes seductive promise,” Margaret Chan, the WHO Director-General, told the more than 350 experts meeting in Thailand’s capital. “Health officials and hospital...

When noted economist Jean Dreze visited Surguja in Chhattisgarh a decade ago, its utterly non-functional Public Distribution System (PDS) looked like especially “designed to fail.” The National Advisory Committee member has written in a recent article that the ration shop owners illegally sold the grain meant for the poor and “hunger haunted the land.” But that was then. The economist was pleasantly shocked to see the transformation this time. “Ten years...