Business/Economy
Mutual funds give thumbs down to PSUs, cut stake - Sandeep Singh, IE
Major public sector companies, once treasured for rich natural assets holdings, monopolies in certain businesses and a dominant presence in others, have gone out of favour with domestic mutual funds. Over the past 12 months, mutual funds have significantly pared their holdings in bluechip state-owned undertakings amid concern that the government is increasingly intervening in their business.
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Inflation back in RBI's comfort zone - Business Standard
The food mountain: security or a liability? - Renu Kohli, Mint
Growth vs inflation control - Ashima Goyal, Business Line
That man from Rio - Sanjaya Baru, Indian Express
To the brainy, the spoils - Economist
All's fare in airline pricing - Surajeet Das Gupta, Business Standard
Ranbaxy to pay $500 mn to settle US fraud charges - Business Standard
Cobrapost sting: RBI finds violations by banks, insurers - Indian Express
China can fund India’s infrastructure - Ajit Ranade, Mint
Bank of America shifts some projects back to US from India - Anirban Sen, Mint
US Supreme Court rules for Monsanto in patent fight - Lawrence Hurley, Mint
Killing WTO softly - Ritesh Kumar Singh, Business Line
Why India Post should get a banking licence - Tamal Bandyopadhyay, Mint
Jobs fixed to rig freight scam probe - Josy Joseph, Times of India
The emergence of chief digital officer - Uma Ganesh, Financial Express
The rise and rise of MNC R&D - Sudhir Chowdhary, Financial Express
Will the real inflation rate stand up please? - Rajeev Malik, Business Standard
Clean chits - Sushila Ravindranath, Indian Express
Here's why Food Bill will cost more than we think - Prachi Mishra, Economic Times
H-1B visas biggest worry; new rules to hit Cognizant and TCS most - N Shivapriya, Economic Times
Jet-Etihad Deal: Has government tweaked national policy to pave way for it? - Binoy Prabhakar, Economic Times
Cyber bank heist spans 27 countries - Jessica Dye, Joseph Ax & Jim Finkle, Reuters
Posco closer to iron ore access on SC decision - Financial Express
India, US to jointly develop, produce defence equipment - Pranab Dhal Samanta, Indian Express
Industrial growth slows to 20-yr low of 1% in 2012-13 - Times of India
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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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