In the national budget for 2008-2009, India’s Finance Minister Palaniappan Chidambaram has proposed that the federal government will waive loans to farmers, with the total waiver amount capped at Rs 60,000 crore ($15 billion).
The U.S.-India relationship has recently undergone a dramatic transformation, with both countries committing themselves to a global strategic partnership symbolized most prominently by the agreement on civilian nuclear cooperation. This transformation is anchored in a commonality of values but, equally importantly, in the systemic changes occurring in the international order, namely, the rise of China and India as emerging great powers.
India’s lack of capacity to handle rapid urbanization is, arguably, one of its single biggest challenges. Despite much debate over the Delhi Master Plan 2021, there is still relatively little understanding of the dynamics of urbanization. The experience of our mega cities and medium size towns alike suggests that Indian cities are likely to remain besotted by serious problems. Indeed, if anything, the proposed solutions are likely to make our cities worse rather than better. This is because the preconditions for creating vibrant and dynamic cities simply do not exist.