Development models that focus attention on the poor while expanding job opportunities, increased government spending on social services and aid flows from affluent nations are all successful strategies for alleviating global poverty, the United Nations says. Access to low carbon energy and mobilizing domestic capital by, for example, improving tax collection, are the other factors the UN Development Programme (UNDP) identifies in a new report as crucial factors for the...

The government would soon announce a National Employment Policy (NEP), and with this, employment creation would be mainstreamed into all macroeconomic decision-making, Union Labour and Employment Minister Mallikarjun Kharge has said. The Minister was addressing the recent 99th session of the International Labour Conference, held under the auspices of the International Labour Organisation (ILO). Mr. Kharge said the NEP would provide a holistic framework towards achieving the goal of remunerative and decent...

India’s food and fuel price inflation eased in early June, easing pressure on Reserve Bank of India (RBI) to speed up its process of tightening monetary policy. India’s food price index rose 16.12% in the year to 5 June, snapping a two-week rise, and lower than the previous week’s annual reading of 16.74%, government data released on Thursday showed. The fuel price index climbed 13.18%, compared with an annual rise of 14.23%...

Corruption and human rights issues continue to be neglected by companies despite ongoing interest in United Nations-led efforts to ensure ethical corporate conduct, according to the findings of a new survey by a global initiative that seeks to foster responsible business practices. The UN Global Compact surveyed a total of 1,044 businesses in 97 countries, representing nearly 20 per cent of all of the initiative’s participants last year, and the...

The government on Tuesday approved a a proposal to draw a loan of $100 million (about Rs 450 crore) from the World Bank to promote microfinance in the country. The Cabinet Committee on Economic Affairs (CCEA) cleared the proposal for on-lending to the Small Industries Development Bank of India (Sidbi), which -- in turn -- would disburse the funds to the microfinance sector. “The fund will be used to promote responsible and...