Global business abhors uncertainty. The ministerial-level corruption in UPA-II has slowed FDI and FII inflows. The stock market, despite double-digit corporate profit and 8.6% GDP growth, reflects the anxiety of Indian and foreign investors. To take India's growth story forward in the 20th year of economic reforms, political reforms must catch up. Misgovernance won't do in a globalised, interconnected world. Two kinds of political corruption blight India: episodical and ongoing. Episodical...

The International Labour Organisation has done well to include a draft convention on decent work for domestic workers in the agenda for the 100th session of the International Labour Conference, scheduled for June. For centuries the domestic workers have lived along the margins of the international workforce. Well-documented reports by the ILO and other organisations point to the universality of their woes. Entirely informal in nature, domestic work, at its...

Just reclassified Rs 1.46 lakh crore of spending as capital investment. Finance Minister Pranab Mukherjee’s Budget for 2011-12 seems to have used a new accounting system to make a virtue of necessity. Committed to provide funds to run the Mahatma Gandhi National Rural Employment Guarantee Scheme or MGNREGS, Mukherjee has transferred the entire financial allocation for the scheme under a head that will now help him take credit for a reduced effective...

The Supreme Court has declined permission to a women's organisation for seeking a review of the judgment describing a woman as ‘keep' arguing that such an expression was derogatory to and discriminatory against women on the basis of marital status. In an October 21, 2010 judgment, a Bench of Justices Markandey Katju and T.S. Thakur said: “If a man has a ‘keep' whom he maintains financially and uses mainly for sexual...

“Budget is more than a document of income and expenditure. People expect it to tackle the twin problems of poverty and social injustice while ensuring better income and standard of living.” Country’s first woman Finance Minister of any state government, Upinderjit Kaur, said this while presenting her first budget and last of the present Akali-BJP government on Monday. With the state slated to go to polls early next year, the Rs...