The Indian economy is picking up and should be able to expand at eight to nine per cent. It is high time that the government initiates a universal public distribution system covering at least the essential commodities. Incomes of the rich will go up and India will be a major player in the world when it revives. But the bulk of the population, about 70 per cent, will remain poor with...
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Dubai Debt Crisis May Affect Remittances to India, Isaac Says
A financial crisis in Dubai will hurt remittances to India and reduce job opportunities for citizens of the south Asian nation, said Thomas Issac, finance minister of the southern state of Kerala. About 4.5 million Indians live and work in the Gulf region and remit more than $10 billion annually, according to the Ministry of External Affairs annual report for the year ended March 31, 2009. Remittances from the Middle...
More »Climate change: India satisfied with joint statement by Aarti Dhar
Recognises key principle of common and differentiated responsibilities Statement in line with India’s position: Sunita Narain India on Wednesday expressed satisfaction with the joint Indo-U.S. statement, particularly the portion on climate change, which “represents an increased degree of congruence” in the way the two countries approach the challenge. According to an official spokesperson, the Prime Minister’s visit to the U.S. also laid the foundation for a significant and focussed collaborative effort both on...
More »Consternation over pre-Copenhagen statement of Jairam Ramesh by R Ramachandran
Two elements in statement caused most concern; "It has deviated from the text approved by PMO" The statement issued by Minister of State for Environment and Forests Jairam Ramesh at the pre-Conference of the Parties (COP) ministerial meeting of the U.N. Framework Convention on Climate Change (UNFCCC) held at Copenhagen during November 16-17 has caused considerable consternation among some observers of the evolving Indian policy on climate change. The crucial COP-15...
More »India interrupted by Sunil Jain
Around a third of India Inc’s investment plans are in states affected by Naxalism. Anyone who’s been reading Mahesh Vyas regularly, including his piece on today’s OpEd page, knows India Inc’s investment juggernaut has rolled on relatively unchecked, despite the global crisis, for the past five years. The investments on hand, the CMIE (Centre for Monitoring Indian economy) chief’s calculations show, have the potential of increasing India’s GDP by 50 per...
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