The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...

-The Indian Express   Pranab Mukherjee should use his waking hours to signal bold reforms Until a few years ago no one really thought that governments could go bust. But the deepening sovereign debt crises of Europe have now persuaded us that governments can go bust if their debt levels cross a certain danger mark. What is that danger mark remains a matter of research by economists around the world. Some studies have concluded...

-The Telegraph Delhi High Court today refused to stay criminal proceedings against Yahoo India which had challenged a lower court order summoning it for allegedly hosting objectionable content. Justice Suresh Kait declined to pass an order and fixed March 1 for the next appearance, saying he would hear the case before the trial court does on March 13. Arvind Nigam, the counsel for Yahoo India, today claimed that the company’s name did not...

For a change, Mangal Bedia did not board a crammed bus today and travel 15km to withdraw his old-age pension from a bank. The 70-year-old from Dohakatu village in Ramgarh district, along with 100-odd fellow elders, became the first citizens to access old-age pension by using their Aadhaar numbers with handheld ATMs on the doorstep. The banking service reached their village, thanks to the Unique Identification Authority of India (UIDAI). Until today,...

Even as the Centre prepares to implement its proposed national Food Security Act, States have expressed their unhappiness about the contours of the Bill, particularly the cap on the number of beneficiaries which will automatically reduce their allocation of subsidised foodgrains. Requirement of funds, more foodgrains for distribution under the Targeted Public Distribution System (TPDS), and paucity of storage capacity was a common refrain during the two-day conference of State Food...