The drought in greenfield investment projects in the fertiliser sector in India is finally set to end after over a decade. Existing and prospective investors in fertiliser manufacture are reportedly willing to invest over Rs 45,000 crore in the next few years, both in expansion of existing capacities and creation of new ones. The rising excess demand for fertiliser is driving this renewed spurt in investment activity. The increase in...

Chief economic advisor to the finance ministry Kaushik Basu says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET: A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth? There is...

The Supreme Court's directive to the Union government to distribute rotting grain to the poor free of cost was an “order” and the Bihar government must demand free grain from the Centre to alleviate the plight of the drought-hit people in the State, Communist Party of India (Marxist) general secretary Prakash Karat said here on Thursday. Despite the Prime Minister's reservations, the Centre must comply with the court order of August...

When noted economist Jean Dreze visited Surguja in Chhattisgarh a decade ago, its utterly non-functional Public Distribution System (PDS) looked like especially “designed to fail.” The National Advisory Committee member has written in a recent article that the ration shop owners illegally sold the grain meant for the poor and “hunger haunted the land.” But that was then. The economist was pleasantly shocked to see the transformation this time. “Ten years...

Multinational drug companies appear to have used the Prime Minister’s Office to try and influence government policies that may severely undermine availability of affordable medicines, a group of non-government organisations has said. In a joint letter to Prime Minister Manmohan Singh, 50 NGOs said the PMO had asked the ministry of health and the departments of legal affairs and industrial policy to examine intellectual property rights issues raised by foreign pharmaceutical...