The Economic Survey on Friday favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how. Even as the debate over FDI continues, the survey said during 2011-12, projects worth Rs 24,143 crore are expected to be completed adding a capacity of 168.6 lakh square feet. "Permitting FDI in retail in a phased manner beginning with metros and...

The wife of a top PSU boss has been caught collecting bribe in gold bricks, the CBI said today, the charge suggesting that the corrupt remain as audacious as ever in spite of the shakedown in high places. Abhay Kumar Srivastava, the chairman and managing director of Navratna PSU Nalco, and his wife Chandni have been arrested. The CBI said Chandni took three 24-carat gold bricks weighing a kg each in...

Cash transfers, the latest global development fashion, involve several risks in India, not least the risk of forgetting the need for continuing structural change. WHEN I was growing up, several decades ago, middle-class society in India was always a little delayed in catching on to Western fashions whether in music or dress or in other aspects. The past decades of globalisation seemed to have changed all that. Modern communications technology...

India’s Agriculture Minister Sharad Pawar has refused to ban Endosulfan, a chemical used widely in India as an insecticide. He blamed farmers for the disastrous effects of this pesticide on people. For instance, Kasargod district of Kerala had reported deaths and permanent disabilities due to the use of this chemical. Pawar said the culprits were the farmers who were spraying the pesticide on the Cashew crop against the advice of the Pesticide...

A renewal of concern about fiscal management in India is partly due to the resurgence of populism even in a post-election year. Instead of working to reduce the subsidy bill, various political elements seem to be pushing for even higher subsidies. The recent decision of a group of ministers to absorb higher import and production costs of fertilisers by raising subsidy, rather than increasing prices, is just one example. Some...