The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...

World Bank arm finances polluting steel mill in Jharkhand As the train slowly approaches Jamshedpur town in Jharkhand, the sky begins to turn reddish. It is because of the thick red dust emanating from an industrial unit, surrounded by heaps of industrial solid waste comprising unburnt coal char and flyash. The unit is a medium-scale iron and steel mill belonging to conglomerate Usha Martin. Spread over 120 hectares, the mill became operational...

The Supreme Court-appointed committee investigating illegal iron ore mining in Karnataka is tying up loose ends in Bellary district and will be submitting its final report early next month. The court's forest bench is to hear the case again on February 3.  The Central Empowered Committee (CEC), whose investigations prompted the Supreme Court to suspend mining in iron ore-rich areas of the state, affecting nearly a fourth of the country's production,...

Agriculture minister Sharad Pawar’s suggestion to ban Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) during farming season may not get government’s approval. Instead, the MGNREGA guidelines may be amended to increasing synergy between the world’s biggest social security scheme and agriculture sector to improve production. A set of green methodologies could be included in works allowed under the scheme. Pawar had written to Prime Minister on November 28 seeking the ban....

With deep pockets and international sourcing capabilities, global retail chains will outcompete domestic players, displace jobs, and undermine livelihoods. In predictable fashion, the Manmohan Singh government chose to ignore voices of opposition and implement its agenda of permitting foreign investment in the retail trade. While Parliament was in session, the Cabinet met to approve the hitherto prohibited foreign direct investment in multi-brand retail, with a cap of 51 per cent on...