The India growth story is enviable. Despite plaguing problems, India has emerged stronger and resilient to the global crisis so far. India is expected to be the world's fastest growing economy by 2018, according to Economist Intelligence Unit (EIU), the research arm of the Economist magazine. India, the second largest growing economy will overtake China as the fastest growing major economy with an average of eight per cent in the...

In the hierarchy of sins, robbing the poorest of the poor is right up there. That is what the holders of the 11.28 lakh fake ration cards in Madhya Pradesh are guilty of. By state government estimates, these duplicates constitute 16 per cent of all ration cards in the state. Since the Below Poverty Line and Antyodaya (meant for the very poorest) cards entitle holders to essential food commodities such...

A new draft of the National Food Security Act (NFSA) suggests offering cash compensation to poor people who are unable to receive their quota of subsidized foodgrains. The Congress-led United Progressive Alliance (UPA) government will discuss the draft with state food secretaries in a meeting on 14-15 June. “The Central government shall set up, by notification, a central food security fund for payment of compensation to state governments in the event...

poverty estimates stumble on differing definitions of the household for statistical and policy purposes Officially, the Planning Commission accepted the Tendulkar committee’s report on revision of poverty estimates after the empowered group of ministers on food security asked the commission to issue a final estimate of poverty in the country. Despite the commission’s acceptance, the ministerial group asked it for another estimate of poor households. The simple reason is that 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...