Remote controls are identified as technical devices which are used for various purposes ranging from the launching of space-ships to the monitoring of toy cars. But of late, these devices are being used to direct policies for nation states which are formally sovereign. We speak here of the powerful lobby of international credit rating agencies like Standard and Poor's (S&P), which has just delivered its sermon that India is no longer...

The robust 9 per cent –plus growth in South Asia till 2010, driven largely by India, where it came down to around 7 per cent in 2011-12, had one major qualifier: it was mostly associated with a rapid rise in labour productivity rather than an expansion in employment, according to the latest report Global Employment Trends from International Labour Office. Up until the end of the millennium, that is just a...

-IANS The International Labour Organisation (ILO) Monday warned of the emergence of a global jobs crisis, noting that around 50 million jobs that were lost during the financial crisis are still missing today. Despite signs that economic growth has resumed in some regions, the global employment situation is alarming and shows no sign of recovery in the near future, the ILO said in a report entitled "World of Work Report 2012: Better...

-The United Nations A sustained rise in prices for raw natural resources and basic agricultural goods is defying long-standing patterns and appears to be hurting poor nations through rising food and fuel costs more than it is helping them through higher revenues for their commodities exports.   That was one of the findings of the Commodities and Development Report 2012, a study launched at the 13th session of the UN Conference on Trade...

Statistics can abet illusions, unless properly understood and used. The debates on poverty line and budget deficits reflect a lack of understanding of the meaning and purpose of these measures. India has been recently witness to furious debates on measures of poverty and budget deficits. Any measure can be used only for the purpose it is designed for. The debates in the present cases were furious, because preconceptions and emotions were...