Finance Minister Pranab Mukherjee on Thursday countered the Opposition attack that the government's policies resulted in price rise and said the steps it took resulted in food inflation coming down. Replying to the debate on the motion on price rise, he said additional revenue measures were also taken to bring down the fiscal deficit and keep the economy in a better shape. The Rajya Sabha later unanimously adopted the motion: “This House...
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Half of India’s population lives below the poverty line by Arun Kumar
According to a new Oxford University study, 55 percent of India’s population of 1.1 billion, or 645 million people, are living in poverty. Using a newly-developed index, the study found that about one-third of the world’s poor live in India. The Multidimensional Poverty Index (MPI) has been developed by the Oxford Poverty and Human Development Initiative and the United Nations Development Program (UNDP) as a more precise and comprehensive means of...
More »Global Wheat Shortage Feared as Prices Surge by Liam Pleven and Tom Polansek
Wheat prices have staged the most drastic rise in more than 50 years, as a drought in Russia fuels growing worries that it could lead to a global shortage of the grain. Harsh heat and a lack of rain in Russia have killed half of the crop in some hard-hit areas. The slump in production in one of the world's most fertile breadbaskets has pushed prices up 62% since early June,...
More »Bihar sees a growing tribe of rural migrants by Pallavi Singh
Amipur may be a small dot along the national highway from Patna to Nawada, but its ambitions are big. In the 50-odd households in the village, sparsely populated and rife with an uneasy quiet, most men have left for work outside Bihar. Siyaram Chauhan is the one who returned. He was rescued last month by the state government officials from a brick kiln in Uttar Pradesh’s Bahraich where he worked as...
More »Does the govt know how to control rising prices? by Subodh Varma
Does the government really have any clue about how to go about controlling prices? A quick survey of statements made by everybody from the prime minister downwards shows a picture of groping in the dark, while handing out empty assurances from time to time. What is worse, it's all smoke and mirrors for the public. Coming as it does from a government that is loaded with top-notch economists, it is...
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