From Kyoto to Copenhagen and then Cancun, the pace of the negotiations on a global compact on climate change has been faltering. UN Secretary General Ban Ki-moon has been quoted just last week as saying that he feels the effort at reaching agreement on another global compact may not be worth it.
Double-digit inflation in India is unusual since it has managed for many years with containing inflation to low single-digit figures. Indian voters are also inflation averse and for years the bureaucracy in charge of the economy has been sensitive to any upsurge in inflation. In those days their salaries were in nominal terms and not adjusted for dearness allowance. So inflation hurt the bosses as much as the masses.
