The Planning Commission, the country’s apex planning body, is gradually reconciling to the fact that there would be no large gains in the gross budgetary support (GBS) in budget 2010-11, as the government struggles to reduce fiscal deficit. GBS is the money the Union government allocates to various government programmes through the Union budget. “The major objective of the finance ministry is to bring down the fiscal deficit from 6.8% of...

The strongest earthquake to hit Haiti in more than 200 years crushed thousands of structures, from humble shacks to the National Palace and the headquarters of U.N. peacekeepers. Destroyed communications made it impossible to tell the extent of destruction from Tuesday afternoon's 7.0-magnitude tremor or to estimate the number of dead lying among the collapsed buildings in Haiti's capital of about 2 million people. International Red Cross spokesman Paul Conneally told the...

The government needs to allocate more funds for public health. The mismatch between the declared objective of universal healthcare through the public health system and the actual level of expenditure remains serious.  One of the three most important planks on which Barak Obama won the U.S. presidential election was the country’s healthcare system, which he promised to fix. Indeed, the most important legislative measure initiated by Mr. Obama so far...

A section of the media seems to be mighty impressed with Bihar’s miraculous (11.03%) average annual growth during the 2004-05 to 2008-09, supposedly akin to that of Gujarat (11.05%) but is there a catch in this stunning statistics? (See the graph below). While the media has quoted the Gross State Domestic Product at factor cost (at constant 1999-2000 prices) as provided by the Central Statistical Organization (CSO), but the corresponding...

The New Year began with very good news about the Indian economy. During the last five years, 2004 to 2009, India’s most backward states have shown remarkable growth. Bihar, which grew at 4.5 per cent a year between 2001 and 2005, showed a growth rate of 11.3 per cent between 2005 and 2009. Similarly, Odisha increased its growth performance from 4.94 to 8.74 per cent between these two periods; Jharkhand...