On 9 December 1963, Ram Manohar Lohia spoke in the Lok Sabha about the Rs 10,000 crore outlay that involved wasteful expenditure borne out of a desire to imitate the European way of life.
Crowded cities are rich because there is greater division of labour. The extent of the division of labour depends on the size of the market, wrote Sauvik Chakraverti in 2002.
With 20.2 percent of its total loans in default by the end of last year, Bangladesh had the weakest banking system in Asia. Despite reforms, it will take time to recover.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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