India's growth story in a crisis-hit world has been globally applauded. Still, the prime minister did well not to use his Independence Day address as a mere occasion for back-patting. This isn't yet "new India" where growth's gains percolate to every citizen. Not only must structural nuts and bolts be fixed before we get there, the economic blueprint itself needs a sharper reformist orientation. To its credit, the UPA has...
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Job scheme boosts rural household income 74% by Sandip Das
The employment guarantee scheme has resulted in a big spurt in not only wages but also household income in the rural areas, an analysis of the data since the beginning of the programme in 2006-07 show. While rural wages have risen 38% since 2006-07, household income saw a 74% increase in the four years up to 2009-10. This is despite the fact that just 13% of the 5 crore beneficiary families...
More »MGNREGS wage payments worth crores remain unpaid by Ruhi Tewari
The government owes crores of rupees to workers under its flagship rural jobs scheme as wages for April and May, even though payment is not supposed to be delayed by more than a fortnight. Wage payments of Rs283 crore are due for the first two months of the ongoing fiscal under the Mahatma Gandhi National Rural Employment Guarantee Scheme, according to data available with the rural development ministry, which oversees the...
More »Must cut dependence on debt, reduce subsidies: PM
Prime Minister Manmohan Singh said on Saturday that the country needed to cut down on its dependence on debt to finance its developmental programmes and find ways to reduce the current level of subsidies. "The financing of the plan expenditure has depended far too much on debt. This must change," said Singh while addressing a meeting of the National Development Council (NDC), the country's top policy forum. To fund its...
More »Poverty haunts India's economic miracle
When flames from an open cooking fire raced through Fida Hussein's shack in northern India, it was a disaster for him and his poverty-stricken family. "We have nothing," said Hussein as he stood in the ruins of his hut through which the sky could be seen between the burnt roof timbers in a remote corner of Uttar Pradesh, India's most populous state. India's number of millionaires grew by 51 percent...
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