The quarterly Survey of Professional Forecasters conducted by the Reserve Bank of India (RBI) revised India's gross domestic product growth downwards to 6 per cent for 2009-10 from 6.5 per cent in the previous round of the survey. However, the survey has estimated that corporate profits are set to rise in the current fiscal. According to the RBI, the highest probability of 37.5 per cent is assigned to growth range...
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Food dilemma: High prices or shortages
For a man who will inherit vast tracts of fertile farmland in Punjab, India's grain bowl, Jaswinder Singh made what seemed to him a logical career move -- he took a job with a telecoms company in New Delhi. "I can't go back to the village after an M.B.A. Delhi has more money, better quality of life. The job is more satisfying, and you don't depend on the weather or...
More »Faring well
AMIT KUMAR must be one of the few bankers in the world turning away depositors. The manager of a village bank in the Indian state of Rajasthan, he was reluctant to take a cheque for 1m rupees ($21,200) from the elected head of the village, or sarpanch. The cheque was meant to pay hundreds of villagers for their work under India’s National Rural Employment Guarantee Act (NREGA), which guarantees 100...
More »India Focuses on Education and Health by Heather Timmons
Prime Minister Manmohan Singh pledged Sunday to spend more on health care and education and make it easier for foreign investors to participate in India’s $1.2 trillion economy, one of the fastest growing in the world. At a World Economic Forum meeting in New Delhi, Mr. Singh said that public sector spending on health care would more than double to 2.5 percent of gross domestic product, and education spending would...
More »UN ‘s Asia-Pacific gathering wraps up with call for better trade deal for poorer States
Exports from the world’s poorest countries should be granted duty- and quota-free access to markets, according to government officials, economists and academics attending a regional United Nations trade meeting as they warned against a turn towards protectionist policies. More than 100 participants at the first session of the Committee on Trade and Investment of the Economic and Social Commission for Asia and the Pacific (ESCAP), which wrapped up today in...
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