A section of the media seems to be mighty impressed with Bihar’s miraculous (11.03%) average annual Growth during the 2004-05 to 2008-09, supposedly akin to that of Gujarat (11.05%) but is there a catch in this stunning statistics? (See the graph below). While the media has quoted the Gross State Domestic Product at factor cost (at constant 1999-2000 prices) as provided by the Central Statistical Organization (CSO), but the corresponding...

Without policy efforts to deal specifically with issues such as reduced incomes and unemployment, the global economic crisis will be far from over. FOR most economic commentators, 2010 begins on an optimistic note. Just a year ago, there was much gloom about the world economy. The worst financial crisis since the Great Depression had broken out in full fury; asset markets in the United States, Europe and then most developing...

New method finds India is 9 per cent poorer india is poorer than previously estimated. A revised estimation of poverty for 2004-05 using new methodology showed the number of people below the poverty line was 37.2 per cent and not 28.3 per cent, as estimated earlier. The new estimate took into account expenditure on food, basic health and education, unlike the earlier estimation based on per capita calorie consumption. The inclusions...

The New Year began with very good news about the Indian economy. During the last five years, 2004 to 2009, India’s most backward states have shown remarkable Growth. Bihar, which grew at 4.5 per cent a year between 2001 and 2005, showed a Growth rate of 11.3 per cent between 2005 and 2009. Similarly, Odisha increased its Growth performance from 4.94 to 8.74 per cent between these two periods; Jharkhand...

The recently released figures from the Central Statistical Organisation that estimate how fast India’s states have been growing have undoubtedly been the biggest economic news of the new year. There are many fascinating aspects to the new numbers: for example, that Bihar is the country’s second-fastest growing state, growing at 11.03 per cent annually in the years since 2004-05 — only 0.02 per cent behind Gujarat, a more familiar success...