The impact of the global financial downturn has been felt keenly in the Middle Eastern emirate of Dubai - and that in turn is affecting the remote Indian village of Akhopur in the state of Bihar, from where Amarnath Tewary reports. In August 2008, Bharat Bhushan Tiwari - from Akhopur village in eastern Indian Bihar - took a loan of 71,000 rupees ($1,500) from a village moneylender to pay a...
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Farmers' travails
Replying to a question in the Rajya Sabha on farmers falling into a Debt trap, the government came out with data that are startling. Rice farmers have suffered losses in all regions save Andhra Pradesh over three cropping years ending in 2006-07, with wheat farmers faring a little better. Even today, news reports suggest that farmers do not really gain much even as consumer prices go through the roof. This...
More »Aam admi finds dal-roti out of reach in UPA’s second innings by Gargi Parsai
More than the return of the United Progressive Alliance (UPA) government to power, the aam admi will remember the year 2009 for the back-breaking mehngai and the inability of the government to make dal-roti, sabzi and chini affordable for the masses. The unprecedented rise in the price of essential commodities, particularly pulses, sugar, milk and vegetables turned the year bitter for the aam admi. What was irksome for the people was...
More »Jharkhand: Economic Growth for Whom? by Girish Mishra
As far as natural resources like minerals, land and water are concerned, Jharkhand is among the richest States of India. Yet, its people are among the poorest. Mind you, almost 30 per cent of them are tribal. Out of the total population of 288.46 lakhs, 223.1 lakhs live in rural areas and only 65.36 lakhs are urban dwellers. Even a cursory glance is sufficient to convince that most of the...
More »Decade of Debt-fuelled boom and bust by Larry Elliott
Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...
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