Kaushik Basu, the current Chief Economic Adviser to the Ministry of Finance, had a 15-year-long stint as Professor of Economics at Cornell University. The Padma Bhushan awardee has been working closely with the Finance Ministry and the Prime Minister to chart the country’s future growth path. He spoke to MANAV CHOPRA about the need for better monitoring to ensure growth doesn’t happen at the expense of social justice. Excerpts: A common...
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Danger of inflation by CP Chandrasekhar
WELL before Budget 2010-11 was presented, inflation had emerged as the principal economic problem in the country. With food-price inflation running at close to 20 per cent, even the United Progressive Alliance (UPA) government at the Centre had been forced to recognise it as a problem that deserved as much attention as the objective of achieving a 9 or 10 per cent rate of growth, if not more. In fact,...
More »A Law Unto Itself by Lola Nayar, Chandrani Banerjee
* Main aim is to create asingle-window clearing-house for GM foods/crops * Planned regulatory authority to have overarching powers over state governments, existing laws * No room for farmers or civil society in approval process * Penal action for raising objection without scientific evidence * No independent risk assessment of data submitted to the authority * No provision for revoking approvals, inadequate liability clause * No informed choice for consumers...
More »The Gene Gun At Your Head by Shoma Chaudhury
IMAGINE THE lowly brinjal you have always known turning into a sci-fi gizmo — with an uncharted potency for good and evil. Imagine a food turned into a pesticide — and you will have a measure of the essential uncertainty around Bt brinjal. When Environment Minister Jairam Ramesh announced his indefinite moratorium on Bt brinjal on February 9, he halted a juggernaut that could have swept India to a point...
More »Left to seek scrapping of Land Acquisition Act: Brinda Karat by Ananya Dutta
The Left parties would raise a demand to scrap the “archaic” Land Acquisition Act, 1884, as it facilitated land acquisition by big Corporates, who took advantage of the acute distress of farmers, Communist Party of India (Marxist) Polit Bureau member Brinda Karat said here on Sunday. “Why are they [the Centre] delaying the scrapping of the Act?” she said. “There is utter hypocrisy in land reforms and distribution in the country.”...
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