Scavengers, street vendors and other informal workers are falling further behind as the global economy recovers, amid rising competition from hordes of new working poor , a study released Wednesday said. A survey of people struggling in the so-called "informal job sector" in nine Asian, African and Latin American countries found they had largely missed out on the benefits of the rebound from the 2008 financial crisis. "Incomes have risen for some...

The Union budget writes off Rs.240 crore in corporate income tax every single day on average — the same amount leaves India each day in illicit fund flows to foreign banks. In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are...

With India growing faster than almost every other large economy, the government is right to address its long-run challenges. The push for investment in infrastructure is bearing fruit and the expansion of social programmes such as the National Rural Employment Guarantee Act (NREGA) and the Right to Education Act (RTE) is spreading the benefits of growth across the population. But just as improved infrastructure doesn’t eliminate all traffic jams, rapid growth...

Faced with soaring food prices for the second time in three years, senior United Nations experts today called for greater investment in agriculture from both the public and private sectors to increase smallholder productivity.   “Policy-related solutions are also required to increase the longer-term resilience of global agriculture to allow greater levels of supply to markets as demand grows,” UN Food and Agriculture Organization (FAO) Senior Economist Jamie Morrison told a meeting...

With 80 per cent of the world’s people lacking adequate social protection and global inequalities growing, top United Nations officials are calling for a new era of social justice that offers basic services, decently paid jobs, and safeguards for the poor, vulnerable and marginalized. “Social justice is more than an ethical imperative; it is a foundation for national stability and global prosperity,” Secretary-General Ban Ki-moon said in a message ahead of...