Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...

Development models that focus attention on the poor while expanding job opportunities, increased government spending on social services and aid flows from affluent nations are all successful strategies for alleviating global poverty, the United Nations says. Access to low carbon energy and mobilizing domestic capital by, for example, improving tax collection, are the other factors the UN Development Programme (UNDP) identifies in a new report as crucial factors for the...

Suresh Tendulkar created a flutter among policymaking circles when a committee led by him raised the estimate for poor households in the country to 74 million from the Planning Commission estimate of 65.2 million. The former chairman of the Prime Minister’s Economic Advisory Council explained why his numbers are more credible in an interview with ET’s Pooja Suri and Amiti Sen. Excerpts: Why did your committee decide to accept the...

The glitter of growth has added little sparkle to the lives of many peasants and rural workers. Deprivation, discrimination, and disadvantage dominate the everyday lives of large sections in rural Andhra Pradesh, an important new study*finds.  Village studies highlight features of society that are often overlooked and overshadowed by macro-studies of the economy. A recent study presents extraordinarily rich, unusually detailed and intensely disturbing data on agrarian relations, livelihoods, economic...

To perpetuate a system that assigns a household to a single BPL/APL category in circumstances in which poverty is multi-dimensional is not only bad economics, but unconscionable as well.  The pilot surveys for the next Census of BPL (below-poverty-line) households are due to begin. Discussions are now on to finalise the methodology for the survey, and as the BPL Census is a matter of the subsistence and survival of hundreds...