-Reuters   Cheap generic drugs were meant to change the life of Nandakhu Nissar, whose mouth is swollen by a cancerous tumour. But the cashless and hungry 55-year-old sleeps on a pavement staring up at the windows of Mumbai's biggest cancer hospital.  "What is a generic drug?" shrugs Nissar, who has travelled over 1,500 kms (900 miles) from his home in the hope of treatment. "I have borrowed money from friends and relatives...

According to data released Monday by India’s Planning Commission, the number of people living in absolute poverty in India decreased by 12.5% between 2004-2005 and 2009-2010. India’s official poverty rate stands at 29.8%, or close to 350 million people using 2010 population figures, down from around 37.2% or 400 million previously. The announcement was based on an analysis of data gathered from roughly 100,000 households between July 2009 and June 2010,...

-PTI Implementation of the National Food Security Bill will entail a subsidy of a whopping Rs 1.12 lakh crore, Food and Consumer Affairs Minister K V Thomas informed the Rajya Sabha today.  Food subsidy as per 1993-94 poverty line and 2000 population census is Rs 88,976 crore and as per the 2011 census it would be Rs 197,096 crore, he said during Question Hour.  Additional food subsidy burden for 2012-13 is estimated at...

-The Business Standard In Budget, reformers win, NAC loses The consensus opinion that has developed about the 2012-13 Budget presented by Finance Minister Pranab Mukherjee on Friday is that it was unambitious, especially in terms of reworking government spending. It delivered little in terms of a vision for reform, the argument goes, constrained as it was by the spending-hungry allies in the United Progressive Alliance (UPA) and the entitlement-hooked Congress leadership. A...

-Bloomberg   World food prices will drop this year as increase in unemployment in developing and developed countries slows growth in demand, the United Nations said.   “We have started to see a decline in food prices,” Jose Graziano da Silva, director general of the UN’s Food and Agriculture Organisation, said at a conference in Hanoi on Thursday. World economic expansion will slow to 3.3% this year from 3.8% in 2011, according to the International...