The Tendulkar Committee has pitched for a policy position that is stranded between the harsh realities of poverty and a fiscally conservative neo-liberal framework. The debate on the extent of poverty in India has been a matter of global interest in the recent years. The primary reason for the global interest in the debate is that the levels of poverty in India and China have come to exert significant influence...
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Hard Times by Ashok Mitra
Food prices have shot up by more than 20 per cent in the course of the past 12 months. A vast proportion of the nation is being battered by the price rise — the fixed income group, the working classes, landless peasantry and small farmers who have to buy at least a part of the grains they consume from the market. There is, however, no upheaval among the suffering people....
More »Delhi mayor for closure of units ahead of Games
Delhi’s mayor wants owners of industrial units in and around the city to shut down a month before the October 3-14 Commonwealth Games to give the nation’s capital a cleaner and "world class" look. After all, he says, "the Chinese did the same" ahead of the 2008 Beijing Olympics. The mayor, Dr Kanwar Sain, said in his appeal on Wednesday that traders and industrial unit owners should cooperate in the "national...
More »Decade of debt-fuelled boom and bust by Larry Elliott
Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...
More »The Great Stabilisation
The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...
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