The Economic Survey has warned that more than half the population is dependent on a sector whose share in the economy is shrinking, leading to a bigger urban-rural divide and threatening national food security. "Achieving minimum agricultural growth is a prerequisite for inclusive growth, reduction of poverty levels, development of the rural economy and enhancing of farm incomes," the Survey has said. But it offers no path-breaking solutions on how to meet...
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Why this will be a reform budget-Surjit S Bhalla
Most of us don’t even get a single shot at making history — Manmohan Singh has a second chance The fiscal deficit is an outcome, not a policy. It is the net resolution of the policies pertaining to taxes and expenditure. It is worth analysing separately the two components of the deficit. The table reports the results of relating the tax and expenditure share of GDP to per capita income for...
More »India 4th largest economy but per capita income still low: Survey
-PTI India has become the fourth largest economy in the world because of strong economic growth but still has a low per capita income, the Economic Survey for 2011-12 said Thursday. “India has emerged as the fourth largest economy globally with a high growth rate and has improved its global ranking in terms of per capita income. Yet, the fact remains that its per capita income continues to be quite low,” it...
More »A life saver-Shamnad Basheer
Compulsory licence can go a long way to ensure access to cheaper drugs In a momentous development, the Indian patent office issued the ever-compulsory licence in a highly contentious pharmaceutical patent case. The decision is a thumping victory for several patients and health activists who have been fighting what can only be labelled as highly inequitable pricing strategies by multinational drug firms for the past several decades. In August 2011, Natco, an...
More »Road to cheaper drugs by Rupali Mukherjee
The government's decision to bust the price as well as monopoly of Bayer's anti-cancer drug, through the process of compulsory licensing now opens up the field for the generic industry to follow suit and could well pave the way for the availability of cheaper drugs for lifestyle diseases. More generic companies could invoke the compulsory licensing clause of the Indian Patents Act, following Monday's decision to allow Natco Pharma to sell...
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