It's a myth that the global financial crisis left India virtually unscathed. In fact, India is the biggest victim of financial crisis-induced poverty, according to data obtained by TOI from the United Nations Department of Economic and Social Affairs' (UNDESA). Check out these figures. The UNDESA data estimates that the number of India's poor was 33.6 million higher in 2009 than would have been the case if the growth rates...

Angus Deaton, the Princeton economist regarded as world's foremost authority on cross-country income data, has cast serious doubts on the World Bank's last upward revision of global poverty figures and India's statistics are at the centre of the storm. The world became poorer as a result of a combination of India's economic growth and its low poverty line, Deaton, who is president of the American Economic Association, said in his...

Planning Commission member Abhijit Sen on Monday said the government should have acted with more firmness against hoarders and speculators, to curb price rise. Dr. Sen said that whenever prices start rising some people see in it an opportunity to make money. The government should have acted against such a tendency with a firm hand. He was speaking to journalists on the sidelines of the Green Revolution II conference organised by...

Another food crisis? This time it’s not shortages but prices—a plain failure of responsive policy and execution. Zooming food prices are raising political temperatures yet again. The rumblings, for once, are not merely restricted to the opposition parties, but evident within the ruling coalition as well. Though attacks from across the political spectrum have become a bit subdued of late, the target remains Union agriculture and food minister Sharad Pawar. And...

Dr U Jaikumaran is breathless with excitement over the phone. “The next five days will be hectic and crucial in our war against hunger. We have to transplant rice on 300 acres in just five days.” Dr Jaikumaran, a professor at the Kerala Agriculture University (KAU), has been building a Food Security Army (FSA) – men and women in green uniforms organised into nine regiments and 24 battalions – who are...