On the road to Liberty

The current campaign against corruption provides a golden opportunity to Dr Manmohan Singh to lead from the front. There is an urgent need for speeding up the process of economic, administrative and judicial reforms, not only to push the economy to a higher growth path, but also to help reduce the scope for corruption. Being the Prime Minister of India, he must spell out the options before the country. Then it would be for the people to decide in a democracy. Typically, corruption, or rent seeking, is a consequence of the gulf that exists between supply and demand for any goods or services due to regulatory interventions. Despite, two decades of economic reforms, the regulatory and policy environment in many areas of the economy continue to be quite restrictive, and discretionary powers prevail. It is particularly in those areas where corruption continues to prevail. The current focus on corruption should help us investigate these details and come up with systemic reforms. Any a...

The politicos at the G8 summit in Japan, seem to have drawn their lessons from the Kyoto Protocol, two decades earlier, when they burned their fingers by accepting short-term goals of emission cuts by 2012. The hard reality is that the political leaders can no longer afford to sacrifice the poor today, at the altar of climate change, for the sake of the rich tomorrow. India can legitimately play a leadership role and change the climate of discussion on climate change, I write in " Economic climate at G8 overshadowed talk of climate change ", published in the Mint, on 17 July 2008. “It is the economy, stupid!” The economic and political concerns dampened the desire of world leaders at the Group of Eight (G-8) summit in Japan to ride the hot air balloon of climate change. That’s no surprise. In any contest between a present crisis and future threat, the present always wins. The G-8 leaders are hardcore politicians and recognize that in hard times, politicians must not get carr...

In the constituent assembly in 1948, Dr B R Ambedkar, the chairman of the drafting committee, had clearly reasoned why no political ideology, socialism or anything else, should be included in the Constitution, binding the future generations. But in 1976, under her emergency rule, Prime Minister Indira Gandhi introduced the 42 amendment which among many other things, also introduced "socialism" in to the preamble. Now, 0ver fifteen years since India began to liberalise and reform our economic system, and began a slow journey moving away from the socialist policies that had strangulated the economy, "Should India remain a socialist republic?" I ask this question in view of a recent PIL that raised the same question in the Supreme Court, on 5 February 2008. Last month, the Supreme Court issued notice to the Government of India and the Election Commission in response to a petition questioning the constitutionality of India being a socialist state. The judges wanted to...

Fundamental right is not a luxury for the rich, but a necessity for the poor. The rich has the resources to protect their interest by any number of ways, the poor has nothing but the law to fall on. A version of this article of mine had appeared in the Bengali langugage newspaper, the Ananda Bazar Patrika in Calcutta, on 21 March 2007. A lot is being said about the tragedy of Singur and Nandigram in West Bengal, Parliament has been adjourned, yet not much light has been shed on the real significance of these protests by farmers on the issue of land acquisition. Brand Buddhadeb may have suffered a fatal blow, but despite the ideological melee, an undercurrent of awareness is spreading through the grassroots of society on an almost unheralded issue – protection of property rights. Political and social activists have been hurling arguments accusations, trying to score points against their rivals. If one wants to stress the need for industrialisation, the other calls for inclusive growth....