Chief economic advisor to the finance ministry Kaushik Basu says the government should step in and acquire land for development projects to protect the interests of farmers. He also explains why the government cannot tackle food inflation by distributing free foodgrain among the poor. Excerpts from interview with ET: A large number of land-intensive project have run into opposition. Could it actually undermine our infrastructure thrust and growth? There is...

KEY TRENDS   • Section 105 of the Right to Fair Compensation and Transparency in the Land Acquisition, Rehabilitation and Resettlement Act, 2013, which provides for excluding 13 Central legislation, including Land Acquisition (Mines) Act 1885, Atomic Energy Act, 1962, Railway Act 1989, National Highways Act 1956 and Metro Railways (Construction of Works) Act, 1978, from its purview, has been amended for payment of compensation with rigours $ • The amendments have now...

Sunday will mark the fifth anniversary of the landmark National Rural Employment Guarantee Act (later rechristened the Mahatma Gandhi National Rural Employment Guarantee Act, or MGNREGA). At a time when the country is debating the contours of similar landmark legislation for food security (the National Food Security Act), it is time to evaluate the working of MGNREGA, initially implemented in 200 of the country’s poorest districts and expanded to all...

Sunday will mark the fifth anniversary of the landmark National Rural Employment Guarantee Act (later rechristened the Mahatma Gandhi National Rural Employment Guarantee Act, or MGNREGA). At a time when the country is debating the contours of similar landmark legislation for food security (the National Food Security Act), it is time to evaluate the working of MGNREGA, initially implemented in 200 of the country’s poorest districts and expanded to all...

The rise in global wheat prices by almost 50% in less than two months as commodity markets factor in a sharp drop in exportable surplus has not touched India, among world’s biggest producers and consumers of wheat. What’s more surprising, domestic futures prices too are unlikely to show any appreciable rise, going by the trend in India’s commodity markets. Barring minor blips, August and September wheat futures at NCDEX, largest exchange for...