-The Economic Times   The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone.  But US is struggling with fiscal problems of its own, Japan now has the highest debt/GDP ratio in the world (over 200%), and Europe is moving into an austerity phase. Clearly, a significant chunk of the new trillion will have to come from...

-The Hindu   Suggest “necessary preventive” measures to safeguard the interest of workers   Trade union groups on Monday pitched for a worker-oriented Budget for 2012-13 aimed at removing poverty and unemployment and suggested “necessary preventive” measures to safeguard the interests of workers. At their meeting here with Finance Minister Pranab Mukherjee — the second in the series of the customary pre-Budget consultations — representatives of trade unions (TUs) proposed that wages of contract labour...

-IANS The food security bill, that seeks to legally entitle majority of India's population to cheaper foodgrains, is not sustainable as it would put further pressure on fiscal deficit and worsen inflation, an Asian Development Bank (ADB) official said on Tuesday. "While the purpose of ensuring food security to the poor is laudable, the food security bill is not the right mechanism for it," said Biswa Nath Bhattacharyay, lead professional, Asian Development...

U.P.'s GDP grew at 7.28 per cent in the past five years, but the State ranks low in virtually every area of socio-economic development. IF statistics on gross domestic product (GDP) are the only criteria to evaluate the performance of a government, the Mayawati-led Bahujan Samaj Party (BSP) government in Uttar Pradesh will have to be rated as one with highly impressive credentials. For, India's most populous State has recorded a...

The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is under pressure from several quarters. One such source of pressure is the rural rich whose concerns were recently voiced by Agriculture Minister Sharad Pawar, when he raised the bogey of shortage of supply of farm workers because of the employment guarantee scheme. The fact is that the national average for workdays generated under the scheme is less than half of the...