The Rajya Sabha on Thursday approved re-naming the National Rural Employment Guarantee Act (NREGA) as the Mahatma Gandhi National Rural Employment Guarantee Act (MGREGA), but not before the Government was criticised for corruption in the implementation of the scheme launched in 2005. Responding to clarifications, Union Minister for Rural Development C.P. Joshi announced that there would be a “different wage index” under the scheme, one that may not necessarily be...

The United Nations today launched a pilot project to provide fuel-efficient stoves to some 150,000 women in Sudan and Uganda to cut the risks of murder, rape and other violence they face in gathering firewood, while at the same time protecting the environment. The Safe Access to Firewood and Alternative Energy in Humanitarian Settings (SAFE) stoves initiative organized by the World Food Programme (WFP) and other UN agencies, will be...

There has been no let-up in the rising trend of food prices. For the week that ended on November 28, the wholesale price index for food articles rose 19.05 per cent over the corresponding period last year. A week earlier, it was at 17.47 per cent. Indeed, arresting the price rise of essential commodities has been a challenge to the government for quite some time now. Some recent developments have...

We Indians implicitly believe in India’s great past. Recently, that past has been given a statistical underpinning by Angus Maddison. To celebrate the beginning of the 21st century, Maddison wrote a book called The World Economy: A Millennial Perspective. There he says that India was the world’s largest economy in the first millennium AD. It produced one-third of the world’s income in the first century, and 29 per cent in...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline...