It is well known that Amartya Sen is the greatest economist that India has ever produced. His credentials were well established even before he got the Nobel Prize. With his latest book — The Idea of Justice — he has also established himself as a world-class moral philosopher who could come up with great abstractions and generalisations that no other Indian thinker could achieve earlier. The Indian academia, so far, has...
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Measuring progress by Jayati Ghosh
A commission set up to look into alternative ways of measuring economic and social progress has added to the existing debate but not made any real advances. FOR some time now it has been clear that standard measurements of growth and development are inadequate and possibly even misleading. The problem of looking at only the aggregate gross domestic product (GDP) has been widely noted: its blindness to distributional issues and...
More »Missed policy opportunity by Jayati Ghosh
Did we just miss a major opportunity? For short while, it seemed that the global financial crisis would focus minds on what is wrong with the current economic growth model and how we can go about changing it. Unfortunately, that moment seems to have passed, at least until the next crisis comes along (which, in current trends, will not be long, since all the major forces that led to the...
More »Hunger Overview
KEY TRENDS • As per the 2019 Global Hunger Index report, neighbouring countries such as China (GHI score: 6.5; GHI rank: 25), Sri Lanka (GHI score: 17.1; GHI rank: 66), Myanmar (GHI score: 19.8; GHI rank: 69), Nepal (GHI score: 20.8; GHI rank: 73), Bangladesh (GHI score: 25.8; GHI rank: 88) and Pakistan (GHI score: 28.5; GHI rank: 94) have outperformed India (GHI score: 30.3; GHI rank: 102) *13 • As per the 2018 Global Hunger Index report,...
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Output and Growth According to the [inside]Economic Survey 2017-18, Volume-2[/inside] (please click here to access): • The growth rates of agriculture & allied sectors have been fluctuating at 1.5 per cent in 2012-13, 5.6 per cent in 2013-14, (-) 0.2 per cent in 2014-15, 0.7 per cent in 2015-16 and 4.9 per cent in 2016-17. • The Gross Capital Formation (GCF) in Agriculture and Allied Sectors relative to Gross Value Added (GVA) in...
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