India’s annual monsoon rains, key to farm output and economic growth, are expected to be better than previously forecast, raising prospects of good harvests and possibly helping to cool double digit food inflation. The monsoon rains, which deliver 75-90% of the country’s rainfall, were expected at 102% of the long-term average, government officials said on Friday, raising an earlier forecast of 98%. Bountiful rains despite slow progress of the June-September monsoon will...
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Developing countries set to account for nearly 60% of world GDP by 2030, according to new estimates
The rapid growth of emerging economies has led to a shift in economic power: forecasts based on analysis by late economist Angus Maddison suggest that the aggregate economic weight of developing and emerging economies is about to surpass that of the countries that currently make up the advanced world. According to Perspectives on Global Development: Shifting Wealth, a new publication from the OECD Development Centre, the economic and financial crisis is...
More »Rich getting richer: 120k Indians hold a third of national income by Rukmini Shrinivasan
Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...
More »Foodgrain output in India seems stagnant for 10 years by Jayashree Bhosale
An analysis of the remote sensing data collected by Nasa satellites on the changes in vegetation in India during the last 25 years has confirmed the bad news: The Growth Rate of foodgrain production in India has been stagnant in the last decade, which crop statisticians have been aware of for some time now. A nine-member team of scientists from Nasa, the Boston University and the Indian Institute of Tropical...
More »Hunger back to 1990 levels in South Asia: UN report by Himanshi Dhawan
Even before the food and financial crises hit the world, prevalence of hunger in South Asia was increasing instead of decreasing, taking the region further away from the goal of reducing hunger by half by 2015, according to the United Nations Millennium Development Goals report, 2010. The report says in 2005-2007, the proportion of undernourished people in South Asia had swelled to levels last seen in 1990. The prevalence of...
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