The government owes crores of rupees to workers under its flagship rural jobs scheme as wages for April and May, even though payment is not supposed to be delayed by more than a fortnight. Wage payments of Rs283 crore are due for the first two months of the ongoing fiscal under the Mahatma Gandhi National Rural Employment Guarantee Scheme, according to data available with the rural development ministry, which oversees the...
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FICCI opposes mining bill, debunks tribal compensation scheme
Criticising the government’s Mining Bill, FICCI has said that the proposed legislation would adversely impact investments in the sector. It also termed the government’s scheme to provide shareholdings to tribals in mining projects as flawed. In a recent letter to Finance Minister Pranab Mukherjee, FICCI Secretary General Amit Mitra said that the proposed act will “adversely affect the industry”. “...the latest draft of the Mines and Minerals Development and Regulation Act 2010 proposes...
More »Must cut dependence on debt, reduce subsidies: PM
Prime Minister Manmohan Singh said on Saturday that the country needed to cut down on its dependence on debt to finance its developmental programmes and find ways to reduce the current level of subsidies. "The financing of the plan expenditure has depended far too much on debt. This must change," said Singh while addressing a meeting of the National Development Council (NDC), the country's top policy forum. To fund its...
More »Revisiting Indian poverty by CP Chandrasekhar
Even as India once more self-declares its “arrival on the world stage” with a symbol for the Indian rupee, a global assessment presents a depressing picture of India’s actual economic performance. In a study whose conclusions were to be expected, the Oxford Poverty and Human Development Initiative (OPHDI) has revealed that an appropriate index of poverty (and deprivation) finds its incidence in India and elsewhere to be much greater than...
More »Poverty haunts India's economic miracle
When flames from an open cooking fire raced through Fida Hussein's shack in northern India, it was a disaster for him and his poverty-stricken family. "We have nothing," said Hussein as he stood in the ruins of his hut through which the sky could be seen between the burnt roof timbers in a remote corner of Uttar Pradesh, India's most populous state. India's number of millionaires grew by 51 percent...
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