The recent spike in world food prices has further widened the gap between the developed and the developing economies. While, over 70 per cent of the world's population resides in poor countries, it has access to less than 40 per cent of the world's resources such as water, irrigated land, power, etc. This is a result of inconsistent economic progress (post-colonialisation birth pangs), rampant population growth and distractions such as...

In April, India’s Planning Commission accepted recommendations put forth by the so-called Tendulkar Committee on a new poverty headcount for the country. Constituted by the Planning Commission under economist Suresh D Tendulkar, the committee, after four years and a new methodology, arrived at a new figure for the number of Indians living below the poverty line: 37.2 percent, ten points higher than the previous official figure. With the government’s subsequent...

The Union budget estimates the nominal rate of growth for the Indian economy to be 12.5 per cent during the current fiscal. While it is impossible to figure out the manner in which this number was arrived at, the government has predicted further that the inflation-adjusted real growth rate for the same year will be eight per cent. Simple arithmetic requires that the difference between the nominal and real growth...

India’s annual monsoon rains should revive in two days after a 10-day lull, the weather office said on Monday, raising hopes for a pick-up in soybean planting in the world’s biggest edible oils buyer. The June-September rainfall, which irrigates 60% of the country’s farms and drives rural incomes, is vital for the trillion-dollar economy. A healthy rainfall despite the slow progress could help Prime Minister Manmohan Singh tame high double-digit food...

A significant proportion of the country’s official below poverty line (BPL) population cannot be termed ‘poor’. Fathom this: around a fourth of the 14 million odd BPL households in urban India own a two-wheeler, a third of them a colour TV and almost two-third a pressure cooker. Almost one in five urban BPL households has at least one well-educated, graduate or above, member. The 56 million-strong rural BPL population too exhibits...