After increasing slowly and steadily from historic lows, world rice prices tripled in just six months during 2007-08. The price surge caused much anxiety because so many of the world’s poor are rice consumers. And it caught many by surprise as market fundamentals were sound. Indeed, it was government policies, rather than changes in the production and consumption of rice, that drove the surge. This suggests that improved government policies...

The Supreme Court on Thursday asked the government to widen the scope of its action on black money beyond the issue of tax evasion, questioning why it had not gone after those who had stashed huge amounts of money abroad or inquired about the source of the siphoned funds. The Centre explained the difficulty in revealing the names of foreign bank account holders who were in the zone of suspicion for...

Its project hanging fire, South Korean steel giant Posco has objected to the Ministry of Environment and Forest’s (MoEF’s) recommendation that the company should submit a “detail time-bound” schedule for spending at least 5 per cent of its total project cost or about Rs 3,000 crore towards welfare activities in the project area in Orissa. Although Posco expressed willingness to earmark funds for CSR (Corporate Social Responsibility) activities, it pointed out...

Like doctors and lawyers, teachers may soon be subject to a “code of professional ethics”, which includes clauses for disciplinary action over corporal punishment, private tuitions and other “anti-community” activities. If accepted by the government, the proposed code would apply to school teachers across the country, from primary to secondary and senior secondary levels, and across government as well as private schools, with the aim of restoring “dignity and integrity” to...

This order will bind all private unaided schools in Rajasthan, but it underlined the Supreme Court's anxiety towards implementation of Right To Education Act, 2009, which mandated schools to keep 25% of seats for socially and economically disadvantaged sections. Importantly, a Bench comprising Justices R V Raveendran and A K Patnaik also stayed the stipulation of weightage to parent's educational qualification for admissions into pre-primary and nursery classes. Though this is...