-The Economic Times Retail sector liberalisation has been revived and included in Prime Minister Manmohan Singh's package of big-bang reforms announced recently. This was to be expected as an element of the package since the influential minister Jairam Ramesh, who has access to Sonia Gandhi and is identified with her NGO-dominated set of advisers whose knowledge of economics is outweighed by their enthusiasm, had already announced his conversion to retail sector...
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Make suggestions but don't impose solutions, Bhagwati tells civil society
-The Hindu ‘Had market-using reforms been used in auctioning spectrum, the scam would not have arisen” Batting for removal of licence regime to tackle corruption, noted economist Jagdish N. Bhagwati on Thursday said the auction of 2G spectrum in 2008 would have averted the telecom scam. He lauded the Congress-led United Progressive Alliance (UPA) government for bringing out anti-corruption legislation and asked the civil society to make suggestions and not impose solutions. “High-level...
More »Growth as tool to alleviate poverty
The Prime Minister's focus on double-digit growth is not due to any ‘growth mania'. It is for the benefit of the poor. At a recent function for police officers, the Prime Minister observed: “If we don't control Naxalism, we have to say goodbye to our country's ambition to sustain a growth rate of 10 to 11 per cent per annum.” Some commentators (like Prof Prabhat Patnaik of JNU) interpret this (in a...
More »What does Congress stand for? by Arvind Subramanian
Larry Summers, the recently departed Chairman of US President Barack Obama’s National Economic Council, posed the following question before his trip to India last November: “What is the self-perception of the Congress as a political party?” In fact, this broad question provokes three specific ones in the domain of economics. Is the Congress the party of Jagdish Bhagwati or Amartya Sen; Nehru or Indira Gandhi; or Aruna Roy or Nandan...
More »Economist, Plan architect K.N. Raj passes away by C Gouridasan Nair
K.N. Raj, widely respected development economist and teacher and one of the architects of the Indian Plan edifice, passed away here on Wednesday. He was 85. Dr. Raj — who was the economic adviser to Prime Ministers from Jawaharlal Nehru to P.V. Narasimha Rao, and set the pace of India’s economic growth story from the First Five-Year Plan — had been keeping indifferent health for some time. He was admitted to...
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