The government is planning to augment the supplies of essential items through imports to rein in food inflation which has flared up to a decade high of 19.95 per cent in the first week of this month. “Food prices are going up and this is an area of concern ... We have to take appropriate measures to see what best can be done by increasing the supply through imports,” finance minister...
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Bonus Excesses and Outrage by Jaimini Bhagwati
Government and regulators need to focus on the systemic risk engendered by excessive compensation. As calendar year 2009 draws to a close, it is bonus season for the financial sector in the West. In the last several months, the need to cap bonuses and compensation packages has been extensively discussed in the context of limiting the future impact of the next financial sector breakdown. On December 9, 2009, the UK was...
More »Built on illusion by Jayati Ghosh
The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...
More »India food prices hit 10-year high
Food prices in India have risen to a high of nearly 20% over last year, the highest rate in a decade. The federal finance minister Pranab Mukherjee has said the government was planning to import food to ease prices. A short supply of food due to lower farm produce following drought and floods has led to the rising prices. Overall inflation in India has risen to 4.78% in November, up from...
More »Child marriage ban on Centre’ mind by Samanwaya Rautray
The Centre today told the Supreme Court it was thinking of making child marriages invalid, taking a step forward against a social evil still deep-rooted in several parts of the country. “The practice of recognising child marriages was intended to protect women. The government is thinking of making such marriages void (invalid),” additional solicitor general Indira Jaisingh said. Under the Hindu Marriage Act, child marriages are recognised as valid, keeping in mind...
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