Kaushik Basu, the current Chief Economic Adviser to the Ministry of Finance, had a 15-year-long stint as Professor of Economics at Cornell University. The Padma Bhushan awardee has been working closely with the Finance Ministry and the Prime Minister to chart the country’s future growth path. He spoke to MANAV CHOPRA about the need for better monitoring to ensure growth doesn’t happen at the expense of social justice. Excerpts: A common...

I want you to consider some well-known, oft-repeated facts: * About half of India’s children are malnourished, a record poorer than the world’s poorest area, sub-Saharan Africa. * India is home to a quarter of the world’s hungry — about 230 million people — according to the World Food Programme. * India is the world’s second-largest grower of rice and wheat, and more than 50 million tonnes of foodgrains lie in...

The economist and political commentator who was appointed to a four-member team of the UN to recommend reforms to the global financial system critiques Budget 2010 Economist and political commentator Prabhat Patnaik, currently vice-chair of the Kerala Planning Board, is a strong critic of the government’s economic policies. In 2008, Patnaik, who has taught at JNU since the 1970s, was appointed to a four-member team of the UN to recommend...

“It would improve the standard of life of people in the rural areas”  United Nations Development Programme (UNDP) Administrator Helen Clark has praised successful implementation of the Mahatma Gandhi National Rural Employment Guarantee Scheme in Rajasthan, saying it would improve the standard of life of people in the rural areas and stop their migration to cities. “Conceived as the biggest employment generation programme in the world, the NREGS is seemingly yielding...

Technology is helping public sector banks find customers in rural India. This is part of the Centre’s efforts to include villages in the organized financial system; to ensure they are not cheated of their wages. Pilots show promise   The current state of rural banking in the country is poor. A recent report, by the National Sample Survey Organization, revealed that 51.4 per cent of the 89.3 million total farmer households in...