A significant proportion of the country’s official below poverty line (BPL) population cannot be termed ‘poor’. Fathom this: around a fourth of the 14 million odd BPL households in urban India own a two-wheeler, a third of them a colour TV and almost two-third a pressure cooker. Almost one in five urban BPL households has at least one well-educated, graduate or above, member. The 56 million-strong rural BPL population too exhibits...
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Rains to revive in 2 days, help soybean by Ratnajyoti Dutta
India’s annual monsoon rains should revive in two days after a 10-day lull, the weather office said on Monday, raising hopes for a pick-up in soybean planting in the world’s biggest edible oils buyer. The June-September rainfall, which irrigates 60% of the country’s farms and drives rural incomes, is vital for the trillion-dollar economy. A healthy rainfall despite the slow progress could help Prime Minister Manmohan Singh tame high double-digit food...
More »Agri-growth and malnutrition by Ashok Gulati, T Nanda Kumar & Ganga Shreedhar
India has been lauded for its remarkable overall economic growth of over 8% over the last five years. But despite this high and relatively stable growth, India's underbelly is soft. The agriculture sector is performing below expectations, with growth rate of around 2.8%, it is way below the Eleventh Plan target of 4%. The Food and Agricultural Organisation (FAO) estimates that 22% of India's population is undernourished. Child malnutrition is...
More »Self-employment scheme to become livelihood mission
The Cabinet Committee on Economic Affairs (CCEA) Thursday approved the restructuring of a centrally-sponsored rural self-emeployment scheme as a National Rural Livelihood Mission (NRLM) given past experiences, shortcomings pointed out by research studies and recommendations by various committees. Home Minister P. Chidmabaram said that NRLM will function in a mission mode for target-based delivery of outcomes. It will follow a demand driven approach which would allow the states to formulate...
More »Rich getting richer: 120k Indians hold a third of national income by Rukmini Shrinivasan
Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...
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