The Tendulkar Committee has pitched for a policy position that is stranded between the harsh realities of poverty and a fiscally conservative neo-liberal framework.  The debate on the extent of poverty in India has been a matter of global interest in the recent years. The primary reason for the global interest in the debate is that the levels of poverty in India and China have come to exert significant influence...

The 13th Finance Commission (TFC) has recommended a return to fiscal consolidation and reform in expenditure management. It has also suggested the Centre offer states a share of revenue raised from levies such as cesses and surcharges, according to people familiar with the report. TFC, a statutory body tasked with suggesting ways in which taxes should be shared between the Centre and states and drawing up a road map towards fiscal...

Poverty is a multi-dimensional concept. Official statistics in India have always referred, arguably narrowly, to only income poverty (using the proxy measure of consumption expenditure from the NSSO surveys).The Suresh Tendulkar Committee report submitted to the Planning Commission is the latest input to the “Great Indian Poverty Debate”. While the increase in the number of poor households, as suggested by the Tendulkar Committee, may indeed help expand the coverage of...

The current food inflation is a result of food output growth not keeping pace with population growth Few recall that, just last month, there was a food security summit in Rome. In sharp contrast to the almost overwhelming coverage of the Copenhagen climate summit, it attracted far lesser attention from the heads of governments, as also from the media. This is somewhat strange as a food (and water) crisis can hit...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline from...