Since state financial corporations are set up to encourage the establishment of industries by providing loans on liberal terms, the recovery of debts from chronic defaulters is seen by courts from two angles. One is that public money is lent for starting private enterprises and, therefore, the financial institutions should be tough on the debtors. The other approach is that these units benefit the public and, therefore, the endeavour should...

The Supreme Court on Monday declined to interfere with a Gujarat High Court judgment dismissing a petition which challenged land acquisition by the State government for the Tata Motors’ Nano project at Surendranagar. Rejecting the public interest litigation petition filed by the NGO, Rashtriya Kisan Dal represented by H.K. Thaker, Chief Justice of India K.G. Balakrishnan asked him: “You don’t want iNDUSTRIALISATION of Surendranagar? Gujarat is the second most industrialised State.”...

The near total political paralysis of one of India's largest states, Andhra Pradesh, over its proposed carve-up, raises fresh questions about how the world's largest democracy will handle questions of identity and territory in this young century. Telangana, the new state proposed, is not a fresh demand, but even as it seems closer than ever to materialising, it opens a Pandora's box in a vast country of over a billion...

Empty protest no substitute for rational framework In a voluminous 300-page report, a committee on agrarian relations and land reforms, headed by the Union rural development minister, has found fault with practically every aspect of land policy in India, attributing the rise of Naxalism, tribal and agrarian unrest entirely to this. However, despite its composition of a mix of officials, experts and activists, the committee has failed to come up with...

This small and readable book is a layperson’s introduction to India’s economic catastrophe. Since many people believe in an ongoing economic miracle, such views are often dismissed as doomsday talk. But it is better to be aware of reality than to live in an illusion. The title is apt—Bhaduri offers us an unsettling vision of what awaits us if we continue along the current path. He alerts us to the...