The class bias in government policy is clear in the decision to release a small amount of foodgrain in the open market to tackle inflation. MOST people would agree that there is a strong element of speculation underlying the current inflation and that forward trading contributes to it. Yet the government, though it has banned forward trading in certain commodities under public pressure, is curiously reluctant to see this point....
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Of margins and the marginalised by Jayati Ghosh
The countrywide share of corporate retail in food distribution tripled in the past four years when retail food prices showed the greatest increase. THE dramatic increase in food inflation over the past two years has been associated with several surprises. One major surprise has been how the top economic policymakers in the country have responded to it. The initial response was one of apparent disbelief, followed very quickly by the...
More »The dark side of globalisation by Jorge Heine & Ramesh Thakur
The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...
More »Environmental protection efforts rile pro-development forces in India by Rama Lakshmi
Every time Indian Environment Minister Jairam Ramesh says no to a project, his critics give him a new label: Green fundamentalist, anti-business, anti-growth, obstructionist, Luddite and Dr. No. The job has rarely attracted so much attention, but Ramesh has turned a sleepy and apathetic ministry into a controversial one in recent months. His pronouncements have stopped projects worth billions of dollars, creating powerful enemies in industry and business. His political colleagues have...
More »Unlocking the potential of rural unorganized sector
When we talk of India's mammoth work force, be it in rural or urban scenarios, what comes to mind is the 'unorganised' sector. They form the multitudes that do not 'belong' to a sector governed by a slew of measures in accordance with labour laws or employment terms defined by policy measures. These are the multitudes, which fall outside the ambit of Central Government legislation pertaining to wages and salaries....
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