The acronym LPG has several expansions. It stands for liquefied petroleum gas. It stands for liberalisation, privatisation and globalisation, a term of abuse used by those with Leftwing persuasions. It stands for life plundered by the government, sentiments associated with those who are against state intervention, but increasingly felt by the so-called middle class - however defined - because of price hikes, and proposed price hikes, for petroleum products. Ostensibly, price...

-The Economic Times   The Planning Commission's affidavit to the Supreme Court that anyone with a monthly expenditure of more than Rs 965 in urban areas and Rs 781 in rural areas would be deemed 'not poor' has been greeted with howls of indignation. Rightly so! Though both numbers - adjusted for inflation - are an improvement over the Tendulkar Committee's numbers of Rs 447 a month in rural areas and Rs...

Planning Commission, RBI officials hold brainstorming deliberations with experts With the persistent near double-digit headline inflation, despite sustained increases in key policy rates by the Reserve Bank of India, turning out to be “a frustrating experience for policymakers,” senior officials from the Planning Commission, the Finance Ministry and the RBI met with a group of academic economic experts and representatives of the International Monetary Fund (IMF), the World Bank and the...

The Planning Commission’s latest affidavit to the Supreme Court in the right to food case reveals it has not taken the court’s advice to revise the thresholds and spending that determine the poverty line, although the commission admits to spiralling food costs and inflation. The affidavit was filed in a public interest litigation being pursued by the People’s Union for Civil Liberties, which wants the government’s threshold of Rs. 12 and...

-BBC   India's main planning body has said half a dollar a day is "adequate" for a villager to spend on food, education and health. Critics say that the amount fixed by the Planning Commission is extremely low and aimed at "artificially" reducing the number of poor who are entitled to state benefits. There are various estimates on the exact number of poor in India. Officially, 37% of India's 1.21bn people live below the poverty...