Although India is a labour-surplus economy – with an unlimited number of workers willing to work at a subsistence wage – a paradoxical feature of the labour market is the rising incidence of scarcity or shortages amid a situation of potential plenty. No doubt, this pertains to skilled labour. But when 15 per cent of Indian trucks are idle owing to a shortage of drivers or India Inc is worried...

-The Hindu   “Allowing oil firms to control market will hurt economy”   De-regulation by which the three public sector oil companies are empowered to set the price of petrol and other petroleum products has been challenged in a public interest litigation petition in the Supreme Court. The All India Youth Federation (AIYF), represented by its general secretary P. Sandoshkumar, said there was no rationale behind replacing the Administered Pricing Mechanism (APM) with the Import...

Former IPS officer and Team Anna’s Kiran Bedi claimed today that she was only trying to “save money” to educate children when she claimed full air fare — in many cases, even Business class — from her hosts while buying Economy at 75% discount thanks to her police gallantry medal. At least one host put its foot down. Referring to the The Indian Express report, Chhattisgarh, an evening newspaper, today reported on...

Kiran Bedi, one of the most vocal members of Team Anna, who riled Members of Parliament with her Ramlila ghoonghat act, may herself have some explaining to do. The issue: the inflated travel expenses she has been charging NGOs and institutions which invite her for seminars or meetings.   Records of bills, invoices and copies of cheques with The Indian Express show that Bedi, who is entitled to a rebate on Air...

-The Hindu   Noted Jaipur-based economist V. S. Vyas has expressed concern over “progressive diminution” of cultivated holdings which he says has led to stagnation in the yield of major crops and rendered agricultural income insufficient for farmers to make ends meet. A sharp decline was also being witnessed in per capita food production, he said. Delivering the Tarlok Singh Memorial Lecture at the University of Hyderabad over the weekend, Professor Vyas said...