The basic problem with the Approach Paper, as with its predecessor, is that its theoretical paradigm is wrong. WHAT used to be said of the Bourbon kings of France applies equally to the Indian Planning Commission: “They learn nothing and they forget nothing.” The Approach Paper to the Twelfth Five-Year Plan gives one a sense of déjà vu. It is hardly any different from the Approach Paper to the previous Plan...

-The Hindu Business Line   Input subsidy expenses not contributing to boost productivity The World Bank has said that South Asia's foodgrain stock management, especially in India, needs to improve to tackle inflation. In its focus on food inflation in South Asia, the bank said that high stocks have led to high wastage due to inadequate storage capacity and technology. According to World Bank's estimates, the Food Corporation of India lost 10-16 million tonnes...

-The Economic Times   More than 25 of the top economists of the country have written an open letter against the Planning Commission poverty line and said that the public distribution system should be universalized. "We do not consider the official national poverty lines set by the Planning Commission, at Rs 32 and Rs 26 per capita per day for urban and rural areas respectively, to be acceptable benchmarks to measure the extent...

In a significant move, prominent economists on Monday made a forceful plea to delink food entitlements from the “faulty” poverty measures put out by the Planning Commission. Asserting that under-nutrition was much more widespread in the country than income poverty “however defined,” the economists sought restoration of the universal Public Distribution System (PDS) “as the best way forward'' in combating hunger and poverty. “This is not only feasible within the available fiscal...

The acronym LPG has several expansions. It stands for liquefied petroleum gas. It stands for liberalisation, privatisation and globalisation, a term of abuse used by those with Leftwing persuasions. It stands for life plundered by the government, sentiments associated with those who are against state intervention, but increasingly felt by the so-called middle class - however defined - because of price hikes, and proposed price hikes, for petroleum products. Ostensibly, price...