-Outlook Nobel laureate Joseph E. Stiglitz is one of the world’s leading economists. A former chief economist at the World Bank and currently University Professor at the Columbia Business School, he was recently in India to attend an international conference on development and to promote his new book, The Price of Inequality. He spoke to Pranay Sharma about growing inequality in the world and the challenges facing India. Excerpts: * Your coinage,...

-IANS The government is planning to set up a Rs.40,000-crore flexi-fund to help states address specific rural development needs. The fund will be available to states from the next financial year till the end of the 12th Five-Year Plan in March 2017. The central government will have a 70 per cent share in the fund. "For the first time, we are putting together a flexi-fund of Rs.40,000 crore that will be available to...

-The Indian Express After QS and Times Higher Education published their rankings of universities across the world, higher education has become the subject of fierce debate in India. The highest ranking institutions from India are the IITs, but even these do not figure in the top 200. The general refrain — why does no Indian university find a place among the top global universities? Unfortunately, given our present policies on higher education...

-The Hindu Building ‘capitalism with Indian characteristics’ means decisions cannot ignore concerns of voters and communities As the economy slows down and the rupee wilts, Manmohan Singh has bitten the ‘reforms’ bullet with both eyes on the credit rating agencies whose negative reports have done much to dampen the ‘animal spirits’ of investors, foreign and native. Last November, when the Congress party made a push to introduce foreign direct investment in multi-brand retail,...

-The Indian Express Full Planning Commission chaired by Prime Minister Manmohan Singh today approved 12th Five Year Plan (2012-17) document that proposes to lower annual average economic growth rate target during the period to 8.2 per cent from 9 per cent envisaged earlier in view of fragile recovery. "The Full Planning Commission approved the draft 12th Five Year Plan document, subject to certain suggestions made in the meeting," Planning Commission Deputy Chairman...