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UP mills keep cane farmers in good humour
In the backdrop of the scarcity of sugarcane this season, the sugar mills in Uttar Pradesh are keeping the farmers in good humour by collectively making advance payment of nearly Rs 770 crore.

Asian markets end flat
Asian markets ended flat at the end of a lacklustre day.

News of the day

The worker-run enterprise fiction
When the West Bengal government intervened by setting up Operating Managing Committees (OMCs) of workers in closed and sick tea gardens in the state, it was done to also alleviate the basic problems of the workers’ families. But this seems to have only given rise, as reported in the earlier parts of this series, to a section which makes money by exploiting other workers in collusion with local contractors. There is little evidence of any intervention, either by the district administration or political bigwigs, to curb this.
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Letters: What autonomy?

Everyone in a democracy has the right to express their opinions, but this right needs to be tempered sometimes. Tower of Babel (December 31) rightly points out that there are too many conflicting voices on the economy from senior government officials, and this is confusing the markets. There are various estimates of growth and the latest in this is from the Chief Economic Advisor who thinks India will move back to 9 per cent next year, and will overtake China in the next three-four years. If all of this is going to happen without India undertaking any serious reforms, why are we even worried about reforms — 9 per cent growth with a population growth of 1 per cent is more than good enough. - Retail recovery still some time away - Letters: Justice delivered">Letters: Justice delivered - Should RBI raise interest rates? - MJ Antony: Free hand for arbitrators">MJ Antony: Free hand for arbitrators - Reliving the mutiny - Subir Roy: Lessons from recession, road ahead">Subir Roy: Lessons from recession, road ahead The larger worry here is what this portrays in terms of RBI’s autonomy. With the credit policy review at the end of the month, you’d think RBI Governor D Subbarao would be the person who has to take a call on whether monetary policy should be tightened. But with both the Planning Commission Deputy Chairman and the Chief Economic Advisor saying there is no need for this, it puts too much pressure on the Governor. Sanjay Seth, New Delhi


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