After Copenhagen, there is no “developing world” — there are several.  About 45,000 travelled to the U.N. climate summit in Copenhagen — the vast majority convinced of the need for a new global agreement on climate change. So why did the summit end without one? Key governments do not want a global deal: Until the end of this summit, it appeared that all governments wanted to keep the keys to...

The Union finance ministry’s mid-year fiscal Review, tabled in Parliament last week, notes very correctly that the “current period represents a crossroads for the Indian economy”. Having weathered the global economic downturn, the Indian economy has performed better than expected. Hence, the Review’s upbeat tone is understandable. Yet, the Review offers an honest account of the challenges ahead, hence the view that India is at a crossroads. Much of the...

It was a night out under the stars. These were not city slickers but a group of villagers from Salona. On the way down from Chikhaldhara hill station in Amravati district, the darkness of the cold night is lit by small fires. Groups of people huddle around the flickering flames. Their children lie swaddled in thin bedclothes which cannot keep the chill away. Shivlal Belsare and his wife are finishing off...

Curbing inflationary expectations is the priority Food price inflation has been in double digits for almost a year. Officially this week it is clocking up 20 per cent, the highest in 11 years. Stories of inflation in pulses and vegetables have appeared repeatedly in newspapers all over the country. The minimum support price for wheat has more than doubled in the past three years. The sugarcane farmers invaded the roads of...

It is official now that the poverty in India is much more than earlier estimated. The Suresh Tendulkar Committee report submitted this month (December 09) estimates poverty in India at over 37 per cent (2004-5) and not at 28 per cent as calculated earlier. With recent price rise in food items factored, the current level could be even higher (See the link of the report below). The Government of India had...