Trump's election reflects the anger of the rich who did not get richer. This inequity is also at the core of the climate change challenge What does the ascension of Donald Trump to US presidency mean for climate change? Also, what does Trump mean for our inter-connected and by now highly globalised world?
In countries like India, informal business is the existing order of the day
A model where small producers engage in a large-scale economic activity is an important model in the development laboratory of India
On this Human Rights Day, we want to emphasise that the right to minerals lies with the local people, and so they must benefit
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.
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.
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.
The oil price surge has left the market watchers and media agog. Expert views sparred on price insulation, energy security and our vulnerability. It was fascinating to follow the desperate bid to brag that the global crude price hike will not hurt Indian incomes as much as they did the last time. Oil dependence of Indian income is on the downturn as we are earning more from non-oil based IT sectors. Reportedly, India’s oil consumption to GDP ratio has fallen by 56 per cent since the nineties.
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?
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.
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.
Here is what it takes to make an absurd number game -- cunning rules, crafty calculations and clueless regulators. Or how else do we describe the new proposal from the Steering Committee of Emissions Regulations (scoe) of the Union Ministry of Shipping, Road Transport and Highways on carbon dioxide (co2) emissions standards to improve fuel economy of cars and two-wheelers!