South Asian countries, led by India, registered a rapid economic growth in 2010 and their unemployment rates dipped marginally from the previous year, says the latest annual Global Employment Trends (GET) report of the International Labour Organisation (ILO). Globally, however, it was a bad year for jobs for the third successive year. The annual employment trends survey points to a highly differentiated recovery in labour markets, with persistently high levels of...

Between the Reserve Bank of India, the Union finance ministry and the army of economic advisors that surround Prime Minister Manmohan Singh no one seems to have a clue about how to get a grip over food inflation. Not only has the recent episode of high food prices seen surprisingly sharp spikes in the prices of vegetables and fruit but it has lasted longer than any other episode of inflation...

Illegality in India today touches almost every economic activity. It is both systemic and systematic. The Indian ruling class faced its severest crisis of credibility in 2010. Its past caught up with it and skeletons and scams were spilling out of its closets. The scams have a symbiotic relationship with the black economy. The number of scams is growing and so is the size of the black economy, which has reached...

Higher food prices pose a major threat to the global economy and social stability but policymakers must not over-regulate commodity markets, a senior World Bank official said on Thursday. Ngozi Okonjo-Iweala, managing director at the Washington-based bank, said rising food prices are squeezing the poor and contributing to social instability. "Higher food prices and volatility are one of the biggest threats to the global economic recovery and social stability. You saw...

Many experts do not seem to know the ground realities that affect a farmer Personal experience remains the best teacher. “Today several book experts claim to know the answer for solving agriculture crises. Many officials are interested in pushing their projects in the government than for farmers' welfare. Some are foreign educated and do not seem to know the ground realities,” says Mr. Avaran, from Malappuram, Kerala, who developed a low cost...