What is common between Brazil, Russia, India and China? That’s easy. They are the so-called BRIC countries. But, what is common between these BRIC countries and other emerging economies such as Indonesia, Argentina and South Africa? The answer: inequality. This disconcerting connect between these emerging economies is the focus of a report released last week by the Organization for Economic Cooperation and Development (OECD), the think tank for the club of...

Anti-corruption crusader Anna Hazare made an impactful return to the "anshan-andolan (fasting-protest)" arena on Sunday, drawing an enthusiastic and youthful crowd to Jantar Mantar and rallying major non-Congress parties to his cause. Three months after his epic 13-day fast at Ramlila Maidan, the response to Anna's seven-hour protest is proof that the Gandhian has not lost traction with popular sentiment despite his now familiar anti-government announcements. He also succeeded in splitting...

-The Business Standard   Finance Minister Pranab Mukherjee explained the government’s helplessness over inflation in the Rajya Sabha with great eloquence on Thursday. Much of what he said may have solid economic fundamentals, but the United Progressive Alliance (UPA) government cannot claim helplessness forever — not when the signs of the cracks it is creating in India’s rural prosperity are becoming so obvious. If any one thing that has protected the Indian...

-Live Mint China nearly doubled its rural poverty threshold last week, in a move that will make an estimated 130 million people (or nearly one-tenth of its total population) eligible for various social support schemes funded by the government. China has now tweaked its poverty line for the fourth time in four years. Poverty lines are not set in stone. They have to be regularly changed. This development comes just as the...

-The Times of India   The Supreme Court on Friday ordered an investigation into whether the benefits of government's welfare programmes like NREGA were reaching the intended beneficiaries and to fix accountability for ensuring that they do, in what is going to be a gigantic exercise. A bench of Justices G S Singhvi and S J Mukhopadhaya appointed senior advocate Indu Malhotra as amicus curiae and asked her to study the details...