Although India is a labour-surplus economy – with an unlimited number of workers willing to work at a subsistence wage – a paradoxical feature of the labour market is the rising incidence of scarcity or shortages amid a situation of potential plenty. No doubt, this pertains to skilled labour. But when 15 per cent of Indian trucks are idle owing to a shortage of drivers or India Inc is worried...

Prime Minister Manmohan Singh today reached out to India’s civil society and sought to be in sync with the restive public mood worldwide. Singh warmly appreciated “Anna Hazareji’s movement”, condemning the physical attacks on Team Anna members in recent days, sympathised with the sentiments of the Occupy Wall Street protests and praised the role of the judiciary as central to India’s democracy. In a wide-ranging interaction with journalists on his flight home...

The year 2010 endured 950 natural disasters, 90 percent of which were weather-related and cost the global community well over 130 billion dollars. From wildfires in Brazil to record rainfall in the United States to the severe drought and famine in the Horn of Africa, it has become clear to many that quick and radical decisions need to be made about the world's future.  One of the biggest advocates of this position...

-The Economic Times   If food inflation seems to be pinching more, it is because vegetable prices barely decline in winters, milk rises through the year and egg prices remain high in summers - all because of rising demand.  Over the years, the seasonal variation in prices has dropped and consumers do not have the option of shifting to cheaper produce to keep daily costs down, says a recent Reserve Bank of India...

The rural development ministry has drawn out a plan to spend as much as Rs 2 lakh crore on two of its major schemes — Pradhan Mantri Gram Sadak Yojana (PMGSY) and the Swarna Jayanti Gramin Swarozgar Yojana (SGSY). The ministry, however, has left it to the government and the plan panel to decide the timeline over which these funds should be spent. The plan panel has indicated that it wants...