Business/Economy
Telecom set to be cash cow for government - Times of India
The government couldn't have asked for a better deal from the telecom sector, especially at a time when its fiscal condition is under stress. While telecom companies are crying foul over the expected high burden due to Trai's proposal to peg the floor price for fresh spectrum auctions at 10 times the cost at which they got licences during A Raja's term, the finance ministry is not complaining.

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Manhole ahead - Lola Nayar, Outlook India
Silicon Valley’s start-up machine - Nathaniel Rich, NYT
Drilling deep for success - Sunjoy Joshi, Times of India
Reality check on land - Yoginder K Alagh, Indian Express
Narendra Modi cements his ties with India Inc with Mumbai talk - Economic Times
The interest rate-growth disconnect - Madan Sabnavis, Financial Express
Just export some of that grain mountain - Tejinder Narang, Business Line
Panchayats take first steps towards digital empowerment - Anuja, Mint
Current governance deficit - Business Today
Child malnutrition in India - Arvind Panagariya, Times of India
Indian agri can go places - Salil Singhal, Business Line
Mistry's power of one - Brian Carvalho, Economic Times
51% FDI in multi-brand retail OK: SC - Dhananjay Mahapatra, Times of India
Broadcasters-ad agencies spat over billing continues as ads stay off air - Gaurav Laghate & Viveat Susan Pinto, Business Standard
Coal, gas and misaligned priorities - Jyoti Mukul, Business Standard
India's hardware ambitions - Shyam Ponappa, Business Standard
The third voice - Ajit Balakrishnan, Business Standard
Saradha: Define the scam correctly first - Pratip Kar, Business Standard
Why India should reward honest, rich taxpayers - Charan Singh, Economic Times
CBI alleges ‘illegalities' in allocation, accuses coal min of non-cooperation - Utkarsh Anand, Financial Express
Dealing with digital dividend - RRN Prasad, Indian Express
India losing competitiveness - Niranjan Rajadhyaksha, Mint
Rajan urges approval of insurance Bill - Asit Ranjan Mishra, Mint
India may grow at 6.1% this fiscal: World Bank - Remya Nair, Mint
Is SMS Dead? - Rohit Bansal, Pioneer
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Verbatim

There was for years an old "social contract" between politicians and business. This provided for complex rules and regulations that made it impossible to do business honestly in many fields. But it was possible to do business dishonestly, through pay-offs . Some called this "efficient corruption" : politicians took money and delivered clearances. However, the anti-corruption mood of the courts, and new fears of getting caught (like Pawan Bansal) have ended "efficient corruption" . Politicians may still take money but not deliver on clearances , what some call "inefficient corruption" that freezes investment and growth. The old social contract has broken down.
Swaminathan SA Aiyar
 

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