Acute poverty prevails in eight Indian states, a new ‘multidimensional’ measure of global poverty has said. The measure claims that the eight states put together account for more poor people than those present in the 26 poorest African nations combined. The new measure, called the Multidimensional Poverty Index (MPI), was developed and applied by the Oxford Poverty and Human Development Initiative (OPHI) with the United Nation Development Programme’s (UNDP) support. It...

Eight Indian states account for more poor people than in the 26 poorest African countries combined, a new measure of global poverty has found. The Indian states, including Bihar, Uttar Pradesh and West Bengal, have 421 million "poor" people, the study found. This is more than the 410 million poor in the poorest African countries, it said. The Multidimensional Poverty Index (MPI) measures a range of "deprivations" at household levels. Developed by Oxford Poverty...

Peruvian economist Hernando de Soto turned classical capitalism on its head with his trickle-up theory: that if you create wealth at the bottom of the pyramid, it will find its way up. de Soto, president of the Institute for Liberty and Democracy, speaks to The Indian Express Editor-in-Chief Shekhar Gupta on NDTV’s Walk the Talk on the need for the poor to be able to participate in the global economy...

The official line is simple. Since we cannot afford to feed all the hungry, there must only be as many hungry as we can afford to feed. There was irony in the timing of the petrol price decontrol order. The decision, which also covered major hikes in diesel and kerosene prices, and affects hundreds of millions of people, came even as Manmohan Singh advised world leaders in Toronto on the need...

In June 1991, the country embarked on a bold adventure by exposing to market vicissitudes its insulated manufactories, regulated (but pockmarked with soft spots) financial markets and inexperienced economic players. An economy, in those days, was about people, not giant factories and ships with riches. Though successive governments have secured the reformative underpinnings of the liberalisation process, it is to the credit of players in India that the sublime quest...