Tirole's insights show how real-world incentives are complicated, and contracts can be difficult to write and enforce.
Modi govt must bring about reforms to kick-start big-ticket infra projects.
It is as much about farmer woes and the lack of job opportunities as about the mixing of religion and politics.
There is a link between objectives and commitments.
'She was once asked what the secret to political leadership was and she said it was the ability to like all kinds of people.' 'I don't think Rahul fundamentally likes people -- that's probably why he can't deal with them and it shows.' 'Sonia is a more talented political mobiliser than her son, but I think the decline of the Congress set in in 1969...'
'A three generation US-Pakistan relationship is not likely to be snapped any time soon. All this presents an irritant to an India that wishes to concentrate on economic development,' says Colonel Anil A Athale (retd).
'You are beginning your professional life in a time of global turmoil, when economic systems and the earth's eco-systems are in deep crisis.' 'Societies across the world are struggling with the complexity of technological and social change happening at a speed that our species has never experienced before.' 'May you be more excited than frightened by the times we live in.' 'Precisely because the crises are so deep, there are also unprecedented opportunities for pioneering and brave work that can transform society, culture and economy to create a much better world for your children.'
New Delhi must indicate to Afghan President Ashraf Ghani that it has a long-term strategy for his country. It should point out that Pakistan's present Afgan policy will destabilise Afghanistan and help Islamic State, says Gautam Sen.
Aadhaar-related schemes and the Aadhaar Act exist on the assumption that Right to Privacy is not a Fundamental Right.
After five decades of existence, the Shiv Sena's support base seems to be shifting towards the rural electorate but there it has to contend with the network of Sharad Pawar and the BJP.
Here's the full text of Prime Minister Narendra Modi's address to the United States Congress.
'It would not be incorrect to say that the Chinese-Pakistani strategy of containing India began in the aftermath of the 1965 war.'
The major driver of Mod's foreign policy can be gauged from his economic priorities such as creating employment opportunities for the youth bulge. Related to this is emphasis on manufacturing, and infrastructure development, which in turn raises the issue of FDI. He has already articulated his views on all these issues, says Rup Narayan Das.
One of the urgent tasks ahead for the new government should be to improve public trust in the executive.
Vivek Gambhir revels in his two-city life between the Godrej-owned flagship in Mumbai and his own family in New Delhi.
'I am doing all this for the students of Kerala, and when they come and hit me, it is very frustrating.' 'My regret is that something that could set off for the future has been thwarted.' 'We have not changed the syllabus for decades, we have not accepted norms in education and technology is hardly used. Today's students are studying what I studied decades ago.'
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
'If, as appears to be the case, India is on way to 'mending fences' with China, and China is equally desirous to 'reset' the relationship, this could be a self-reflexive moment in India's positioning vis-a-vis not just the Dalai Lama, but also the Tibetan issue and China as a whole,' points out China expert Alka Acharya.
An airport in Noida could lead to higher user fees and diversion of traffic from Delhi, which has huge unused capacity.
'Burhan Wani's killing served as a spark for the anti-establishment fire that has been raging in the minds of Kashmiris ever since the Centre stopped engaging them for their political future,' says Air Vice Marshal (retd) Kapil Kak in an interview with Rediff.com
The government has provided a long-term vision.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
The patience, discipline, and resolve displayed by 125 crore Indians, will play a critical role in shaping the future of the nation for years to come, the PM said.
Since many of Modi's urban policies were initiated in Ahmedabad, the city may act as a template to examine what can be expected in a country that is witnessing the biggest migration from rural to urban areas in the world
Purvi Patel is the first woman in America to be sentenced to prison for foeticide. Chaya Babu/Rediff.com reports on the verdict and the ripples of shock and fear it set off.
Contentious issues such as the construction of a Ram Temple in Ayodhya, abrogation of Art 370 giving special status to Jammu and Kashmir and enactment of Uniform Civil Code have been included in the Bharatiya Janata Party's election manifesto with the party making promises on them.
The full transcript of the exclusive interview with Prime Minister Narendra Modi.
The government has taken a number of steps to address the situation faced by farmers.
Maharashtra Finance Minister Sudhir Mungantiwar speaks to Prasanna Zore/Rediff.com.
With Beijing having had a profound rethink on India's admission as a full member of the Shanghai Cooperation Organisation, the tectonic plates of the geopolitics of a massive swathe of the planet stretching from the Asia-Pacific to West Asia are dramatically shifting. That grating noise in the Central Asian steppes will be heard far and wide -- as far as North America, says Ambassador M K Bhadrakumar.
'It is in the interest of both sides that the visit of the US President is seen as being successful. Both sides have invested considerable political capital in it. This rapid exchange of visits and the decisions taken have to be justified, beyond the symbolism, which is no doubt important in itself. This opportunity to impart a fresh momentum to ties should not be missed,' says former foreign secretary Kanwal Sibal.
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