-The Economist For the first time ever, the number of poor people is declining everywhere THE past four years have seen the worst economic crisis since the 1930s and the biggest food-price increases since the 1970s. That must surely have swollen the ranks of the poor. Wrong. The best estimates for global poverty come from the World Bank’s Development Research Group, which has just updated from 2005 its figures for those living in...

Rice, wheat production seen at highest ever, but other commodities show a decline from previous year’s harvest The government estimated a record high foodgrain crop for the 2011-12 crop year that ends in June, driven mainly by higher output of rice and wheat, but experts said prices are likely to remain firm and keep inflation at around 7%. The likelihood that the government will increase the minimum prices it guarantees farmers for...

Imagine you are a citizen racing across newspapers rapid fire. As you flip the pages you run across events like the Vedanta mining case, the Koodankulam nuclear controversy, the debate on poverty and reports about climate change. Each of these can be a life-threatening event and none of them have a life support system of knowledge which allows them to be debated in the open. The basic information comes from...

A moratorium is not the magic bullet that can slay Bengal’s fiscal demons, several economists have said, pointing out that postponing the inevitable will be of little use unless backed up by a revenue mobilisation road map. Chief minister Mamata Banerjee had yesterday set a 15-day deadline for the Centre to announce a three-year moratorium on the payment of interest on the loans Bengal had taken. “A moratorium on repayment obligations can...

MGNREGA can only succeed if politics is taken seriously in the design of accountability mechanisms Does political competition enhance a poor person’s access to anti-poverty initiatives such as the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA)? Just as some economists believe that competition is an effective way to improve management and productivity, in politics too, some hold that political competition is better than single-party monopoly, because it forces political parties...