As we approach the global summit on climate change in December 2009 in Copenhagen, critical concerns are likely to emerge. Both the United Nations conference last week and the subsequent G-20 meeting in Pittsburgh left several issues somewhat ambiguous. While the United States spoke of reduction in its emissions, these remain insignificant. At the G-20 meet, leaders stated that they would "intensify efforts to reach an agreement at Copenhagen and...

Concern over the domestic economy should not result in barriers on free trade, according to Union Minister of State for Commerce and Industry Jyotiraditya Scindia. While the country would benefit from opening itself up further to international competition, he promised that the interests of farmers and labour-intensive industries would be protected. In a discussion with journalists from The Hindu group on Wednesday, Mr. Scindia defended the Free Trade Agreement (FTA)...

India’s growth is not falling, although it is not as high as before If there is a crisis, there should be economics to deal with it; what use are economists if they are not around to help out when things get bad? And it is not enough to have economics. There was plenty of economics in 1929. As output and employment plummeted, economists said, this is good. It will take...

Why the provision of a good school education is the key first step.  The twin goals of Indian economic planning have been rapid all-round economic growth and equitable sharing of the fruits of development. The country has made significant progress in realising the first objective. But the second goal has remained elusive. After six decades of planned economic development, the disparities have widened and some three-quarters of the population are...

The concepts of multiplier and accelerator borrowed from macroeconomic theory illuminate the enormous potential of NREGA and help set standards that it must be judged by.  Over the last few months, just as the economy entered its current Recessionary phase, the mainstream media, which till then had been uniformly unswerving in their antipathy to NREGA (National Rural Employment Guarantee Act), suddenly began to sing its praises. In all the gloom...