-The Economic Times For nearly two decades, the Government of India has implemented a stingy pension programme for the elderly poor. "An insult to the dignity" of the elderly is how rural development minister Jairam Ramesh describes the pension amount of Rs 200 per month given under the Indira Gandhi National Old Age Pension Scheme (IGNOAPS). A few states provide a somewhat generous supplemental pension, most provide a tiny supplemental amount, some...

-The New York Times India's coalition government just celebrated the third anniversary of its tenure with a self-congratulatory banquet that could not have been more poorly timed: India's currency, the rupee, is falling; investment is down; inflation is rising; and deficits are eating away at government coffers. While short-term growth has slowed but not ground to a halt, India's problems have dampened hopes that it, along with China and other non-Western economies,...

-Live Mint After a record harvest of 90.23 mt this year, the govt’s wheat stocks were at 38.2 mt as of 1 May Worry lines run deep on the faces of wheat farmers in Sehrala in Haryana as falling prices, higher input costs and poor infrastructure erode earnings and cast doubt over not just their next crop, but their future in agriculture as well. Agents in the grain market of Ballabgarh said spot...

C Rangarajan, chairman of the PM's economic advisory council, on Friday hinted at price corrections in both diesel and cooking gas over the next few months to send a strong signal to foreign investors and to ensure adequate capital flows. "I think it is necessary to act on prices of other petroleum products also," he told TOI. Rangarajan, a former RBI governor, said there was a proposal on dual pricing...

A rural Indian spending Rs. 22.50 a day would not be considered poor by a Planning Commission whose Deputy Chairman's foreign trips between May and October last year cost a daily average of Rs. 2.02 lakh Pranab Mukherjee's stirring call for austerity tugs at the national tear ducts. Prime Minister Manmohan Singh has pleaded for it in the past and watched his flock embrace it creatively. With the Finance Ministry even...