The agrarian crisis is far from over. Amidst news of farmers' suicide reported from parts of Telangana, Andhra Pradesh and Maharashtra, an official document released in December by the National Sample Survey Organisation states that nearly 52% of India's agricultural households were indebted during July, 2012 - June, 2013. The average amount of outstanding loan per agricultural household in India was Rs. 47000 (see link below). Based on a survey of...

-The United Nations Higher education is a prerequisite for millions of youth in the developing world who hope to find a decent, "non-vulnerable" job, a new United Nations study has established. The study, conducted by the International Labour Organization (ILO) and released today, surveys 28 countries worldwide and demonstrates that having a high level of education "serves as a fairly dependable guarantee" towards securing a formal job. "The report confirms the role of...

Far from being dead and gone, slavery exists in many forms and is flourishing. A disturbing report on modern slavery compiles facts and figures and documents data about new forms of slavery all over the world. Even more disturbing is the fact that India figures in very high on slavery index. It says that almost 61% of those living in modern slavery are in 5 countries: India, China, Pakistan, Uzbekistan...

-Economic and Political Weekly The current regime seeks to reform labour laws with the understanding that these reforms will improve industrial growth and expand the possibilities of enterprise. However, there is already ample evidence from within India that this obsession with reforming labour law, particularly in the way the government has done it till now, will not take us any closer in creating more jobs or a healthy industrial sector. These...

-The Times of India Jagdish Bhagwati and Arvind Panagariya, hereafter BP, have argued for phasing out the National Rural Employment Guarantee Act in favour of cash transfers ("Rural Inefficiency Act", ToI, 23 October). It's surprising-and amusing-that two eminent economists have chosen to make a case based on prior beliefs and some sophomoric wordplay ('mis'leading economists), rather than on the available evidence. A survey by one of us of the empirical literature...