To its credit, the ministry under Jairam Ramesh is no longer the money-making racket it once was. But its activism often resembles regulatory overreach The decision by the Union ministry of environment and forests (MoEF) to give a conditional green signal to the $12 billion Posco steel project in Orissa is exquisitely timed. It will hopefully send out a strong signal that India continues to be open for business and environmental...

Estimating black money has been a long time preoccupation of economists and tax collectors in India. Several books have been written and several government reports prepared. It is possible to suggest that the policy disincentives that may have contributed to black money generation, like high tax rates, have been moderated, if not eliminated, and that the incentive to declare income has gone up since the beginning of tax and policy...

The economic resolution adopted by the All India Congress Committee at the Burari session is a reiteration of the party’s last two election manifestos. It combines a commitment to rapid economic growth with that to redistributive policies that would help make the growth process socially inclusive. There is a helpful explanation of the three sources of inflation — excess demand, improved prices to farmers and global commodity price inflation —...

Reserve Bank of India (RBI) Deputy Governor Subir Gokarn on Wednesday said food inflation was beginning to look structural and the best way to tackle it was by addressing supply-side issues. “We have been emphasising that food inflation is starting to look structural in nature...We have come to the conclusion that there is a structural driver to food inflation. In this case, the apt approach is to address the supply side,”...

Last month, leaders from 185 countries met in New York to take stock of progress in achieving the Millennium Development Goals (MDGs) — which include, among other things, eradicating poverty and hunger, reducing child mortality, improving maternal health — that were set in 2000 by the United Nations. The aim was to achieve these goals by 2015. But 10 years down the line, the world is way behind targets in achieving...