-The Hindu The wretched outcome of the 2G spectrum auctions, netting just Rs.9,407.64 crore against a Rs.40,000 crore revenue target, has evoked predictable reactions from the Congress party. Its leaders have indirectly mocked the Comptroller and Auditor General, the Supreme Court and the media for tying the government’s hands — instead of expressing concern about the impact of the failed auctions on investor confidence and India’s worrying fiscal deficit. Their gloating...

-Live Mint Flexible labour laws in India cannot solve the problem of weak job growth and the poor quality of employment  The theme of the World Bank’s World Development Report this year is, appropriately enough, jobs. The report recognizes that creating jobs is the surest way of reducing inequality and poverty, particularly in the developing world. But the cliché it offers as a solution is disappointing: relax labour laws. The bank has...

-The Times of India Congress will hold a massive rally on Sunday to defend its decision to allow FDI in multi-brand retail, in what will showcase government's new assertiveness on reforms and the backing extended by the Congress brass in the face of populist criticism that giant retailers will harm farmers' interests and pop and mom stores. The party has, especially its units in Delhi and neighbouring Haryana, have pulled out all...

-The New York Times Blog The strength and direction of the Indian economy may be up for debate, but one remarkable fact is not: There has been massive growth in the number and wealth of billionaires in India since the economic liberalization measures in 1991. The phenomenon has often been compared to the United States’ experience in the latter part of the 19th century. This was a period evocatively described by Mark...

-The Economist Growing inequality is one of the biggest social, economic and political challenges of our time. But it is not inevitable, says Zanny Minton Beddoes IN 1889, AT the height of America’s first Gilded Age, George Vanderbilt II, grandson of the original railway magnate, set out to build a country estate in the Blue Ridge mountains of North Carolina. He hired the most prominent architect of the time, toured the chateaux...