India's finance minister announced on Monday a Food Security bill for 2011/12, a measure that would provide cheap grains for millions of India's poor but which has sparked worries of a huge fiscal cost. It was one of the first signs of populism in the annual budget as Prime Minister Manmohan Singh confronted high prices and corruption scandals as well as elections in five states this year. In his ongoing budget speech,...

Larry Summers, the recently departed Chairman of US President Barack Obama’s National Economic Council, posed the following question before his trip to India last November: “What is the self-perception of the Congress as a political party?” In fact, this broad question provokes three specific ones in the domain of economics. Is the Congress the party of Jagdish Bhagwati or Amartya Sen; Nehru or Indira Gandhi; or Aruna Roy or Nandan...

The Sonia Gandhi-led national advisory council (NAC) has won decisive victories in keeping at bay the governments attempt to regulate right to information and ensuring the pro-tribal Forest Rights Act is made more effective for its intended beneficiaries. On the national Food Security Act -- the third bone of contention between the government and NAC -- the Council at its meeting on Saturday held its ground and advocated a staggered...

The Sonia Gandhi-headed National Advisory Council (NAC) has managed to have its way on key demands on the Food Security bill. Bolstered by the Congress president’s “resolve”, the panel will go ahead and draft its own version of the bill and hope that Sonia’s veto will persuade the Centre to discard its stated objections and adopt the NAC’s draft as law. “Yeh tho hona hi hai,” Sonia reportedly said. A panel member...

Is the chemical fertilizer-based food production system sustainable? As a result, what happens to the soil and the larger issue of Food Security? After a raging debate, the government finally decided to hike the chemical fertilizer subsidy, to catch up with spiralling fertilizer prices in the global market. Also, there is talk about bringing urea under the Nutrient Based Subsidy (NBS) system and decontrolling its prices. Obviously, the fertilizer industry...