U.N. report says this will consolidate the region's economic recovery  Even in crisis, Asia-Pacific still the fastest-growing region Increased social spending directly supports income security for households A United Nations report has called upon governments in the Asia-Pacific region to increase social spending to consolidate the region's stronger than anticipated economic rebound and to spur over the long term a fairer, more balanced, and sustained economic recovery. The Economic and Social Survey of...

Kaushik Basu, the current Chief Economic Adviser to the Ministry of Finance, had a 15-year-long stint as Professor of Economics at Cornell University. The Padma Bhushan awardee has been working closely with the Finance Ministry and the Prime Minister to chart the country’s future growth path. He spoke to MANAV CHOPRA about the need for better monitoring to ensure growth doesn’t happen at the expense of social justice. Excerpts: A common...

The government on Monday said 58 million new job opportunities are likely to be created during the 11th Five year plan (2007-12), thanks to various steps including three Stimulus Packages since December 2008. Replying to a supplementary during the Question Hour in Lok Sabha, Labour and Employment Minister Mallikarjun Kharge said employment is projected to grow at an average rate of 2.73 per cent annually. He informed the House that...

Finance Minister T.M. Thomas Isaac told the Assembly on Wednesday that inclusion of estate workers, the disabled and potters in the scheme for supply of rice at Rs.2 a kg would be considered. Replying to the general discussion on the budget, the Minister said that their inclusion would be subject to condition that the total number of families benefiting from the scheme should not exceed 35 lakh. The budget could not...

The economist and political commentator who was appointed to a four-member team of the UN to recommend reforms to the global financial system critiques Budget 2010 Economist and political commentator Prabhat Patnaik, currently vice-chair of the Kerala Planning Board, is a strong critic of the government’s economic policies. In 2008, Patnaik, who has taught at JNU since the 1970s, was appointed to a four-member team of the UN to recommend...