ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Economic growthSubscribe to Economic growth

Guaranteeing Title to Land

Land is the most valuable natural resource whose planning and development offer major prospects for increases in output and incomes for the people, especially for those who are near or below the poverty line. For efficient land planning and optimum use, it is essential that there be clarity and certainty about title to land. In India land records are in very poor shape and there is maximum litigation in rural and urban areas about ownership. It has been estimated by reputed agencies that India loses 1.3 per cent economic growth annually as a result of disputed land titles, which inhibit supply of capital and credit for agriculture. It is therefore exceedingly important that a fundamental change is brought about in the way land records are maintained. The conversion of the present system of presumptive titles to land into conclusive titles is the only sensible solution of this problem. Bold political direction alone can bring about reform of this magnitude which will bring our country in the mainstream of a worldwide trend, enhance the marketability of land, reduce the stupendous social cost of litigation and give a boost to agricultural production and urban and industrial development.

The Chinese Economic Miracle

China's economic growth, since reforms were launched in 1978, is considered an even bigger miracle than the east Asian one. This paper analyses the nature, causes and consequences of the Chinese success story. It contrasts the Chinese reform strategy with those followed in other transition economies, such as the former Soviet Union and east European nations. The paper also addresses the question of sustainability of the miracle in the years to come, and possible lessons for other countries trying to reform their own economies.

Inter-State Water Disputes Act 1956

The National Commission to Review the Working of the Constitution (NCRWC) has recommended the repeal of the Inter-State Water Disputes Act (ISWD Act) and the enactment of a new Act. Its recommendation is to bring river water disputes within the original and exclusive jurisdiction of the Supreme Court. This article argues that the repeal of the ISWD Act would be singularly ill-advised. Article 262 together with the ISWD Act represents a very good mechanism for dispute-resolution (as a last resort when negotiations fail) and it would be a great pity to dismantle it. There have been some deficiencies in the functioning of that mechanism; the amendments to the ISWD Act passed in early 2002 seek to remedy them and some further improvements are suggested here. The NCRWC is right in wanting to restore the jurisdiction of the Supreme Court, but it should be appellate jurisdiction.

Prescription for 10 Per Cent Growth

The report on the Indian economy by the McKinsey Global Institute raises a number of issues and while many of them are not satisfactorily addressed, the report is noteworthy for putting the spotlight on some issues that need greater attention from Indian researchers and policy-makers.

Pages

Back to Top