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...

Anand Sharma rules out loss of jobs or displacement of small vendors A re-orientation of the policy framework was the need of the hour and enhanced foreign direct investment (FDI) in multi-brand retail would transform the rural economy and generate massive employment and opportunities for both rural and urban youth. This was stated by Union Commerce and Industry Minister Anand Sharma here on Wednesday. This was his first comments to a discussion...

The UN has said what the Congress had been bragging all the time. The international agency has hailed India’s rural job guarantee scheme, one of the flagship programmes of the UPA government, saying that it has reduced poverty and reversed inequality. The UN Development Programme (UNDP) in a report titled “What Will it Take to Achieve Millennium Development Goals? An International Assessment,” says the Mahatma Gandhi National Rural Employment Guarantee Scheme has...

The official line is simple. Since we cannot afford to feed all the hungry, there must only be as many hungry as we can afford to feed. There was irony in the timing of the petrol price decontrol order. The decision, which also covered major hikes in diesel and kerosene prices, and affects hundreds of millions of people, came even as Manmohan Singh advised world leaders in Toronto on the need...

Government has proposed to launch an urban employment guarantee scheme on the lines of NREGA and give statutory sanctions to minimum wages. The proposal, which focuses on generating employment and enhancing employability among less advantaged, is part of the short-term strategies and targets of the government contained in the first Annual Report to the People on Employment. At present, states are under no obligation to implement revision of minimum wages...