After failing to come anywhere near the 10th Five Year Plan (2002-07) target of 4 per cent per annum rate of growth of agricultural output, the Planning Commission has projected a lower target growth rate of 3 to 3.5 per cent per annum for the 11th Plan period. While some may view this as a more modest target, others may consider it as still far too ambitious, given the track...

When flames from an open cooking fire raced through Fida Hussein's shack in northern India, it was a disaster for him and his poverty-stricken family. "We have nothing," said Hussein as he stood in the ruins of his hut through which the sky could be seen between the burnt roof timbers in a remote corner of Uttar Pradesh, India's most populous state. India's number of millionaires grew by 51 percent...

The mainstream projections about India’s economic trajectory talk of how the country’s GDP will exceed that of Japan (whose economy today is more than thrice India’s size) by 2020. A large part of this sustained growth, it is assumed, will come from what is called the demographic dividend. India’s young and growing workforce, the standard argument goes, will ensure that the country’s wage rates keep it competitive for a long...

On the eve of a decision on the draft food security law by the Sonia Gandhi headed National Advisory Council, the government unveiled a blueprint for a complete revamp of the public distribution system, or PDS. State food ministers on Tuesday approved time bound changes in the PDS to plug the weaknesses in the system to create the appropriate delivery mechanism for meeting legal commitments of the proposed law. The...

Peruvian economist Hernando de Soto turned classical capitalism on its head with his trickle-up theory: that if you create wealth at the bottom of the pyramid, it will find its way up. de Soto, president of the Institute for Liberty and Democracy, speaks to The Indian Express Editor-in-Chief Shekhar Gupta on NDTV’s Walk the Talk on the need for the poor to be able to participate in the global economy...