The India growth story is enviable. Despite plaguing problems, India has emerged stronger and resilient to the global crisis so far. India is expected to be the world's fastest growing economy by 2018, according to Economist Intelligence Unit (EIU), the research arm of the Economist magazine. India, the second largest growing economy will overtake China as the fastest growing major economy with an average of eight per cent in the...
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NAC Chief Sonia scores on Food Bill by AM Jigeesh
THE NATIONAL Advisory Council ( NAC) headed by UPA chairperson Sonia Gandhi has scored its first victory — a change in the proposed Food Security Bill that raises the monthly allocation of foodgrains to the poor from 25 kg to 35 kg at Rs 3 a kilo. The draft Bill, approved by the empowered group of ministers ( EGoM) recently, had offered 25 kg of foodgrains to those below the poverty...
More »Population, incomes tilt India towards food imports
India's anxiety over erratic monsoon rains will become more acute as rising incomes and a growing population push up demand for farmed produce faster than supply, turning the nation into a major importer within 5 years. Forecasts of a normal monsoon this year have stirred hopes for smooth supplies and low inflation, reversing setbacks from last year's poor rains. But the country must boost yields if it is to feed...
More »MoRD report raps state on NREGA fund utilisation
The poor utilization of funds meant for rural development continues unabated in Orissa, especially in the backward districts of the state. The pointer to this fact is the gross under-utilization of the funds under Mahatma Gandhi National Rural Employment Guarantee Act (MG-NREGA) in Kalahandi, one of the poorest districts in the state and the country. Out of the total available fund of Rs 56.6 crore for the district under MG-NREGA including the...
More »Govt already planning new base year by Asit Ranjan Mishra
Work on a new base year will start the moment the government starts releasing key economic data such as the Wholesale Price Index (WPI) and the Index of Industrial Production (IIP) with 2004-05 as the reference point within a few months. The National Statistical Commission (NSC), under C. Rangarajan, has recommended that the base year be updated every five years. Officials in the ministry of statistics and programme implementation (Mospi) say...
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