Economists often tell the story about the drunk, the coin and the lamp-post. A drunk is searching around a lamp-post for a coin. On being asked where he dropped it, he waves unsteadily in the darkness beyond reach of the lamp-post’s light. Why not look there? Because, he tells you, the light’s over here. The point, for economists, is that our approach to problems is frequently warped by what data...
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Infrastructure push vital to achieve growth target by Sujay Mehdudia
Continued poor performance of some key infrastructure sectors cause for concern As India is on the path of achieving 8.5 per cent economic growth, aiming to exceed the 9 per cent growth mark next fiscal, the biggest worrying factor that could derail this horse power of growth and play spoilsport in the “growth story” of the UPA II government is the poor state of infrastructure and its tardy pace of development...
More »UN agency on ‘red alert’ as soaring food prices threaten millions of world’s poorest
Record high food prices are putting added pressure on the United Nations agency that helps feed nearly 100 million of the world’s poorest people, with officials warning of a potential “perfect storm” combination of soaring costs, weather emergencies and political instability. “We are on red alert and we are continually assessing needs and reassessing plans and stand ready to assist,” UN World Food Programme (WFP) Executive Director Josette Sheeran told the...
More »Ministry wants more money for rural job guarantee scheme by Ruhi Tewari
The ministry of rural development has demanded a nearly 60% increase in the allocation for its marquee job guarantee scheme in the forthcoming Union budget for fiscal 2011-12. The ministry has sought an allocation of around Rs. 64,000 crore, up from Rs. 41,100 crore, for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), a ministry official said, requesting anonymity. MGNREGS, the flagship programme of the Congress-led United Progressive Alliance (UPA) government...
More »Global food prices rise to new highs, not expected to fall in coming months – UN
Food prices around the world surged to a new historic peak in January, for the seventh consecutive month, the United Nations Food and Agriculture Organization (FAO) reported today, adding that the prices are not likely to decline in the months ahead. According to the FAO, its latest Food Price Index, a commodity basket that tracks monthly changes in global food prices, averaged 231 points in January and was up 3.4 per...
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