-The Indian Express   Pranab Mukherjee should use his waking hours to signal bold reforms Until a few years ago no one really thought that governments could go bust. But the deepening sovereign debt crises of Europe have now persuaded us that governments can go bust if their debt levels cross a certain danger mark. What is that danger mark remains a matter of research by economists around the world. Some studies have concluded...

-PTI Faced with subdued revenue mop-up and rising fiscal deficit, Finance Minister Pranab Mukherjee today said he is "losing sleep" over mounting subsidy bill, which may cross Budget estimate by Rs 1 lakh crore in 2011-12. "As Finance Minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," said Mukherjee, who is engaged in the process of firming the Budget for 2012-13...

It is getting harder for jobseekers to return to gainful employment and for new entrants to find adequate jobs, says the ILO. THERE is little in the International Labour Organisation's (ILO) annual projection of job growth to cheer about. The year 2012 has been described as a year of stark reality. A third of the global workforce is currently unemployed or poor; that is, 200 million members of the 3.3-billion-strong global...

Farmers across the country are entitled to get Rs 1,080 a quintal (100kg) asminimum support price for paddy. But surprisingly, a team from the Centre that visited Bihar and Uttar Pradesh last week found that theFood Corporation of India (FCI) was paying nearly 30% less. With little procurement taking place in these states, farmers have been left with no option but to go for distress sale. The result: In procurement centres...

India's economic growth has added over seven million new jobs every year for almost a quarter of a century. Workers have seen their wages - adjusted for prices - rise by nearly 3% a year. Poverty rates among wage workers and the self-employed have fallen. Going forward, with swelling numbers of new entrants - and more women entering the job market , as was the case during east Asia's rapid...