The Union government plans to empower the Central Vigilance Commission (CVC), which currently oversees the work of state agencies and state-owned companies, to investigate complaints against its flagship rural jobs scheme. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) promises 100 days of annual work to one member of every rural household. CVC currently has to route complaints about irregularities in the scheme’s execution to a state chief secretary or the...

I have been an advisor to The Energy and Resources Institute or Teri, a distinguished visiting fellow there since 1996, except when I was the chairman of the Central Electricity Regulatory Commission, the director-general of the National Council of Applied Economic Research, the chairman of the Institute for Social and Economic Change and on boards of management and economic research institutions. This disclaimer is intended to forestall motives being ascribed...

A landless labourer dies on Christmas day after going without food for five days. Neither he nor his wife, who was a job card holder under the National Rural Employment Guarantee Scheme, knew they could demand work or avail of unemployment benefits as a right It was a death that could have been avoided. Kishen Singh, a 45-year-old landless labourer, died of hunger in Champakheda village in south Rajasthan. What...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...

For about a week after the Dubai crisis broke, international financial markets chose to ignore it. Stock-markets climbed, commodity prices rose and the dollar continued to be beaten down. It is not too difficult to explain this initial indifference. For one, the magnitude of the Dubai crisis appeared piffling, at first glance, compared to the “subprime” crisis or the meltdown following “Lehman’s bust”. When global banks had run up losses...