-Outlook Don’t blame globalization for inequality – but rather policies hijacked by a few Economic globalization in the sense of expansion of foreign trade and investment is, of course, somewhat anaemic, reflecting the impact of global recession, although still vigorous in the sense of continuous international transmission of technology, information, ideas and social media. But in the world of politics and policymaking a cold wind is blowing, dimming earlier enthusiasm for global...

-DNA For the first time, Maharashtra has officially admitted that cotton yield is likely to reduce by nearly 40%. Bt cotton failure in more than 4 million hectares of land has reduced cotton yieldfrom 3.5 million quintal to 2.2 million quintal. A report sent by the state agricultural department to the Centre states that the estimate of the net direct economic loss to cotton farmers in the state will be nearly Rs6,000...

-Outlook Kochi: Reserve Bank Governor D Subbarao today ruled out introduction of Islamic banking in the country but said other methods for channelising funds based on the principles of Islamic law can be looked at. "Islamic banking is not possible", he said, adding the central bank could look at other vehicles based on Islamic banking principles to channelise NRI funds. Replying to a question on the issue, Subbarao said: "There are some legal...

-The Hindu The Centre will soon implement Phase II of the Rajiv Awas Yojna with a focus on providing long-term and bankable property rights to slum dwellers, Union Housing and Urban Poverty Alleviation Minister Ajay Maken said, soon after taking charge of his new Ministry on Tuesday. Talking to journalists at his office in Nirman Bhavan, Mr. Maken said the Centre will adopt the twin strategy of funding and “mandatory reforms” in...

-Outlook Newly-appointed Minister of Housing and Urban Poverty Alleviation Ajay Maken today said the state governments would be asked to issue an executive order to provide property rights to slum dwellers till the Model Bill on the issue is passed. Soon after taking charge of the ministry today, Maken told reporters that a Model Property Rights to Slum Dwellers Bill, 2011 will be passed at the earliest and the states would be...