Government has proposed to launch an urban employment guarantee scheme on the lines of NREGA and give statutory sanctions to minimum wages. The proposal, which focuses on generating employment and enhancing employability among less advantaged, is part of the short-term strategies and targets of the government contained in the first Annual Report to the People on Employment. At present, states are under no obligation to implement revision of minimum wages...

In April, India’s Planning Commission accepted recommendations put forth by the so-called Tendulkar Committee on a new poverty headcount for the country. Constituted by the Planning Commission under economist Suresh D Tendulkar, the committee, after four years and a new methodology, arrived at a new figure for the number of Indians living below the poverty line: 37.2 percent, ten points higher than the previous official figure. With the government’s subsequent...

India’s vital monsoon rains revived in the soybean-growing central region on Thursday, after a two-week lag that reduced June rainfall to 16% below normal, the second lowest in 15 years. Heavy showers in the central Madhya Pradesh state would accelerate soybean planting in the world’s top importer of edible oils and ease growing nervousness about monsoon rains. The weather office reaffirmed its prediction of a normal monsoon this year, in line with...

The Union budget estimates the nominal rate of growth for the Indian economy to be 12.5 per cent during the current fiscal. While it is impossible to figure out the manner in which this number was arrived at, the government has predicted further that the inflation-adjusted real Growth Rate for the same year will be eight per cent. Simple arithmetic requires that the difference between the nominal and real growth...

India has been lauded for its remarkable overall economic growth of over 8% over the last five years. But despite this high and relatively stable growth, India's underbelly is soft. The agriculture sector is performing below expectations, with Growth Rate of around 2.8%, it is way below the Eleventh Plan target of 4%. The Food and Agricultural Organisation (FAO) estimates that 22% of India's population is undernourished. Child malnutrition is...