The World of Work 2012 report presents a bleak picture of the global job situation. FOUR years after the global crisis erupted in 2008, organisations such as the International Labour Organisation (ILO) believe that labour markets still have not fully recovered. The world economy is not expected to grow at a sufficient pace over the next couple of years to overcome the crisis. These organisations present some depressing facts: those...

Giving right to food is not enough to deliver food, say speakers at a conference on food security Agriculture scientist M S Swaminathan has called for setting up a body headed by the prime minister for effective execution of the National Food Security Bill (NFSB) once it is enacted. All chief ministers should be members of this board, he added. NFSB was cleared by the Union Cabinet and introduced in Parliament in...

C Rangarajan, chairman of the PM's economic advisory council, on Friday hinted at price corrections in both diesel and cooking gas over the next few months to send a strong signal to foreign investors and to ensure adequate capital flows. "I think it is necessary to act on prices of other petroleum products also," he told TOI. Rangarajan, a former RBI governor, said there was a proposal on dual pricing...

The Government of India has formally launched the news Guidelines of the MGNAREGA based on the Mihir Shah Committee report. The news guidelines include many new works under conservation activities and it strengthens the hands of the village panchayats and gram sabhas. However, the list of works does not include the activities under the system of rice intensification (SRI) which encourages scientific method of paddy cultivation with better yield in...

Last week, the Indian Meteorological Department (IMD) released its first annual monsoon forecast for June-September. Monsoons are likely to be normal with the probability of deficient or excessive monsoons being relatively low, according to IMD. If this prediction comes true, what does this really mean for India's economy? Impact on agricultural output: The first and most important impact is, of course, on agricultural production, especially in the kharif or summer season....