The global youth unemployment rate is at a record high and is expected to climb even higher as the year progresses, the United Nations International Labour Organization (ILO) announced today. According to a new report, of the world’s 620 million economically active youth between the ages of 15 and 24, 81 million were out of work at the end of 2009, the highest number ever. The youth unemployment rate climbed from 11.9...

Corporate donations to political parties, a long-standing lightning rod for criticism for the implicit conflicts of interest in a controlled economy, will come under greater scrutiny when a new Companies Bill, expected to be passed in the winter session of Parliament, gains the force of law. Provisions enforcing greater transparency and disclosure norms on such donations will be part of the upcoming bill, which is currently being studied by a...

Delhi MPs have failed to make optimum use of funds under MP Local Area Development (MPLAD) scheme, clocking up a utilisation rate of just 86.93%, well below the national average of 90.32%. According to a report of the ministry of statistics and programme implementation, Delhi was placed among laggard states when it came to utilisation of funds till July this year. Since the MPLAD scheme was launched in 1993, total...

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...

The government owes crores of rupees to workers under its flagship rural jobs scheme as wages for April and May, even though payment is not supposed to be delayed by more than a fortnight. Wage payments of Rs283 crore are due for the first two months of the ongoing fiscal under the Mahatma Gandhi National Rural Employment Guarantee Scheme, according to data available with the rural development ministry, which oversees the...