“Each of these imbalances is important and needs to be rectified. One has to do with the differing levels of per-capita consumption of basic public goods and services. The other has to do with the differing levels of stock of infrastructure leading the differential growth accelerating potential development. These are two distinct policy goals and following Tinbergen Principle warrants two distinct policy instruments. Eliminating the Planning Commission and replacing this with NITI Aayog merely as a think tank leaves us with only one instrument; namely Finance Commission. This approach if not reviewed can lead to a serious problem of increasing regional and sub-regional inequities.
Who better than Dr. Vijay Kelkar to tell us more about Niti Aayog 2.0? You might want to look up the Tinbergen Principle if you do not know about it already. (Via Mostly Economics)
“Last year, at the end of the summer melting season, the team drew lines on the stakes marking the height of the ice, as researchers have done here for decades. Now, looking at a stake nearly a year later, Nikolay Kasatkin, one of the institute researchers, and Dr. Shahgedanova saw that more of the wood was visible. With the end of melting still a couple of months off, parts of the Tuyuksu were already about three feet thinner.”
The NYT does excellent work tracking climate change, and this article is only the latest in a long string of articles entirely worth reading. Best viewed on a desktop.
“ICICI directors shouldn’t get a free pass from regulators. Otherwise, they’ll just show up at other boards, perpetuating a culture of CEO worship that’s at odds with their role as stewards of public shareholders. Indian investors deserve better.” Andy Mukherjee doesn’t mince words while talking about the lack of oversight at the board level in ICICI Bank. What might the situation be like at other banks in India?
“It can be easy to think of a calendar as a scientific given, or a reflection of the laws of the universe. In fact, as these holidays remind us, there are as many ways to track time as there are cultures and languages. Each calendar reveals something about how the people who created it relate to the world around them while also preserving rich cultural identities and memories.” A nice read from the NYT about the way different cultures track time – as it turns out, there are many ways to measure it – the lunar and the solar calendars happen to be just two of them.
“India’s first education policy was framed in 1968 based on the famed Kothari Commission report, the second in 1986 and the third—a revision of the 1986 policy—in 1992.The official cited above said it’s not as if the previous policies were implemented quickly. In fact, making eight years of education compulsory was part of the 1968 policy but it was implemented only in 2009 through the Right to Education Act.” A depressing read, particularly for me, but the state of India’s NEP today mirrors much of India’s inaction on this in the past.