Days after he broke away from the NDA over choice of the presidential poll nominee, Bihar CM Nitish Kumar has managed to get the Centre to double the special assistance package to Rs 20,000 crore during the 12th five year (2012-17) plan. The state will get Rs 4,000 crore every year as central package. Although the assistance was promised at the time of its separation from Jharkhand, it was pegged at...

-PTI India’s monsoon, vital for Asia’s third-largest economy, has been 22% deficient till June 26, official data showed, adding to the government’s worries and prompting Prime Minister Manmohan Singh to consult key aides on measures to tone up the economy on Wednesday. In a revised forecast, the Met department predicted the rains would be 96% of the long-term average, lower than its April forecast of 99%. Rainfall is considered normal if...

-The Asian Age   Amidst the high voltage campaign to tom-tom Bihar’s achievements for registering an unprecedented Growth Rate of 13.13 per cent for the year-2011-12, there exists a dark story. Almost half of the state’s population still lives below poverty line (BPL). According to sources in the Planning Commission, the background note, prepared by the panel for the Plan (2012-13) discussion with Bihar chief minister Nitish Kumar on Wednesday, around 48 per...

-The Telegraph   Ashok V. Desai,consulting editor of The Telegraph and chief consultant to the finance minister when Manmohan Singh launched the economic reforms, takes a deep dive into statistics to figure out what is wrong with the economy as Pranab Mukherjee leaves the finance ministry and Singh takes charge The Growth Rate of gross domestic product is reported to have come down. What does that mean? Before the question can be answered,...

-Down to Earth World is moving towards natural capital as a measure of economic growth After using gross domestic product, or GDP, as the universal measurement of economy for six decades, the world has begun looking beyond this gold standard for measuring a country’s economy. On May 25, 10 African countries agreed to incorporate their natural capital, or value of their natural resources, into their national accounts to make better economic decisions. The...