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...

In his engaging book on a love affair between a Hyderabadi princess and an Englishman in the 18th century, William Dalrymple reminds us that “the road from Hyderabad to the port of Masulipatam was one of the most beautiful in the Deccan”. In unearthing this fact from travelogues of the time, Dalrymple draws attention not just to the wealth of Hyderabad, inherited from the richest kingdom of the Deccan, Golconda,...

There is every sign that India is launching into a period of rapid urbanisation. In the next 30 years, an additional 350 million people will have to be accommodated in our existing towns as well as in brand new urban spaces. Given our inability to cater to even the existing urban population, there are serious concerns about our ability to deal with the influx. Are we entering a world of...

The rural population is at present estimated at 85 crores. Ten per cent of the households are completely landless. Another 52 per cent have holdings of less than 0.2 hectare. The per capita agricultural land in the rural areas has come down to 0.12 hectare. According to the National Sample Survey, the annual income of an agricultural household from farming is less than Rs 12,000 and from all sources it...

The three-day World Summit on Food Security (WSFS) that opened in Rome, Italy on 16 November, 2009 has ended with serious differences among participants. Among those expressing dissatisfaction with the final declaration was no less a person than Jacques Diouf, the head of UN’s Food and Agriculture Organisation (FAO). Diouf criticised the declaration for not including exact targets to reduce hunger. There is no mention of a deadline for the...