It's a myth that the global financial crisis left India virtually unscathed. In fact, India is the biggest victim of financial crisis-induced poverty, according to data obtained by TOI from the United Nations Department of Economic and Social Affairs' (UNDESA). Check out these figures. The UNDESA data estimates that the number of India's poor was 33.6 million higher in 2009 than would have been the case if the growth rates...

With a large number of people living on subsistence level of income, the government has to safeguard their interest by ensuring availability of food grains at an affordable price. Success of any policy or programme to this effect depends on growth in agriculture production and procurement of wheat and rice, the main staple foodgrains. Though the performance of agriculture has not been uniform throughout and its growth rate has varied...

 The United Nations has mobilized the fashion and cosmetics industries in an “eco-fashion” battle to curb the unprecedented loss of the world’s biodiversity, from over-harvesting wild species for their skins or natural fibres to pollution caused by manufacturing processes. More than 500 prominent figures from government, international organizations and the above industries have been meeting in Geneva over the past two days at the UN Conference on Trade and Development...

The Planning Commission, the country’s apex planning body, is gradually reconciling to the fact that there would be no large gains in the gross budgetary support (GBS) in budget 2010-11, as the government struggles to reduce fiscal deficit. GBS is the money the Union government allocates to various government programmes through the Union budget. “The major objective of the finance ministry is to bring down the fiscal deficit from 6.8% of...

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...