It is worrying that the Tendulkar method, chosen by the Planning Commission to calculate the poverty line in its latest figures, underestimates the levels of poverty while overestimating poverty reduction. The figures show that 29.8% or 360 million Indians were poor in 2009-10 as compared to 37.2% or 400 million in 2004-05. A poor person has been defined as one who spends R28 per day in urban areas and R22.5...

South Korean steel maker Posco may have to start its bid to enter India from scratch, letting six years of preparatory work go to waste. A top tribunal has cancelled environmental approvals given by the government last year for the company’s $12 billion (around Rs61,440 crore today) steel plant in Orissa and ordered that the environment ministry review the entire project afresh. The tribunal said environmental clearances have been accorded in...

Methodology error, intentionally manipulated data of poor quality and perilous local level political partiality is making the life of poor miserable and proved time and again that ‘any initiative for the poor tends to be a poor initiative.’ The erroneous way of assessing multi-dimensional indicators for locating the poor without making any distinction between facilities self-created by someone against facilities created through government schemes is nothing but an attempt to hide...

The Budget provides proof of the United Progressive Alliance government having forgotten the importance of its own “flagship schemes”. BUDGET 2012-13 provides conclusive proof that the United Progressive Alliance (UPA) government has lost its way. It has managed the remarkable feat of upsetting almost everyone and making no one happy. The Budget is highly regressive in both taxation and spending terms and will raise prices of essentials, so aam aurat and...

-Economic and Political Weekly   Budget 2012, built yet again at the altar of fiscal fundamentalism, will not convince anybody. In this era of immediate assessment it took just a few minutes for the Union Budget for 2012-13 to be given one or the other negative appellation – “lacklustre”, “anti-growth”, “back to the 1980s”, “without reform” and the like. Such evaluations forget that union budgets have long since ceased to be statements of...