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...

The government has readied the draft of its promised Food Security Act but the bare provisions appear to fall short of the pledge on many counts. It could not only trigger a face-off with the states but also cause heartburn to the Supreme Court and displease Congress chief Sonia Gandhi who had prepared a draft and sent it to the Prime Minister's Office last June. The Bill is a result...

Statistical poverty lines should not become real-life eligibility criteria for food entitlements.  Nothing is easier than to recognise a poor person when you see him or her. Yet the task of identifying and counting the poor seems to elude the country's best experts. Take for instance the “headcount” of rural poverty — the proportion of the rural population below the poverty line. At least four alternative figures are available: 28...

The introduction of many new social welfare schemes could be delayed because the rural development ministry and the Planning Commission have yet to agree on a suitable new way to identify the poor, the main intended beneficiaries of these schemes. One key programme that is likely to be hit is the proposed National Food Security Act, which aims to provide every Indian family that lives below the poverty line (BPL) 25kg...

Surging food inflation, decline in agriculture growth rate and the impending food security bill are expected to be at the centre of the coming Union budget. With a bumper wheat harvest expected this rabi, there are projections of a turnaround in the farm sector from the present growth rate of 0.2 per cent. Food prices, which grew at an unprecedented rate of nearly 20 per cent in January, are expected...