What is common between Brazil, Russia, India and China? That’s easy. They are the so-called BRIC countries. But, what is common between these BRIC countries and other emerging economies such as Indonesia, Argentina and South Africa? The answer: inequality. This disconcerting connect between these emerging economies is the focus of a report released last week by the Organization for Economic Cooperation and Development (OECD), the think tank for the club of...

-The Business Standard   Finance Minister Pranab Mukherjee explained the government’s helplessness over inflation in the Rajya Sabha with great eloquence on Thursday. Much of what he said may have solid economic fundamentals, but the United Progressive Alliance (UPA) government cannot claim helplessness forever — not when the signs of the cracks it is creating in India’s rural prosperity are becoming so obvious. If any one thing that has protected the Indian...

In 2004, a boy was crushed to death by a vehicle when he was crossing the road in front of a school to fetch water. The school, in the heart of the nation’s capital, did not have drinking water facilities. Seven years later, courtesy the NGO Environmental and Consumer Protection Foundation and the Supreme Court, all Indian states (the last two being Uttar Pradesh and Jammu and Kashmir) have given...

-The Business Standard   Orissa has voiced its opposition to the caps proposed in the targeted Public Distribution System (PDS) in the National Food Security (NFS) Bill-2011. The NFS Bill has proposed a cap of 75 per cent in rural areas and 50 per cent in urban areas on the coverage under targeted PDS. The state Chief Minister Naveen Patnaik, while welcoming the concept of food security, has objected to fixing limits on targeted...

-BBC   Inequality in earnings has doubled in India over the past two decades, a new report says, making it one of the worst performers among emerging economies. The Organisation for Economic Cooperation and Development (OECD) says the top 10% of wage-earners make 12 times more than the bottom 10%, compared to six times 20 years ago. The OECD says India has the highest number of poor in the world. Some 42% of its 1.21...