Economy | Centre for Science and Environment

Economy


The climate and trade tango

India has emerged as a “voice” in climate change and trade negotiations. At the recently concluded trade talks in Bali, the Indian government was insistent that the rights of poor farmers should not be compromised; in climate change it has raised the matter of equity in sharing global atmospheric space. The already industrialised countries say India is obstinate, strident and unnecessarily obstructionist in crucial global debates. The problem is not that India is loud—that it must be.

Call the monitor

In Goa mines are closed. In Bellary, iron ore mines, once closed, have been opened on the condition that they will now follow a plan for environmental restoration and will not indulge in unseemly and distasteful activities. But the institutions for checking the reformed miners are still in disarray. They cannot monitor and enforce the rules. So, believe it or not, little will actually change in the Bellary landscape.

Green rupee in a mess

The rupee has crashed, growth is down and there is panic that the India story may be over or, at least, seriously dented. For most commentators, the underlying reason for the decline is green regulations. They think environmentalists are squarely to blame.

From protests to where in 2012?

2011’s person of the year, according to Time magazine, is “the protester”. Clearly, this is the image that has captured the world—from dissent against the lack of democracy and repression in large parts of West Asia to anger against economic policies in vast and disparate parts of the world. People, all over, are saying enough is enough. But what will happen to these voices in the coming years? Will the movements of protesters be enough to change the way the world runs its business? Do these movements even know what they want?

Think differently, Mr Finance Minister

As I write this piece, the finance minister has dispatched the Union Budget 2011. The press is busy reflecting the views of business and industry lobbies, as they quibble over duty exemptions, insist on financial stimulus and other incentives, and cry for big-ticket reform—foreign direct investment in retail and insurance. The only other discussion is about the growing fiscal deficit: will the finance minister give in to populism while extending the programmes for the poor? Or will he raise taxes to pay for the growing developmental needs of the country? The finance minister, it would seem, is caught between two battles: of checking the bulge in fiscal irresponsibility and of meeting the need for delivering governance.

ABCDE of Obama’s sales pitch

There is no doubt US President Barack Obama was in India on a business trip. His recent electoral losses weighed heavily with him when he stitched up deals, reportedly worth US $10 billion, that would create about 50,000 jobs back home.

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