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...

Watching the recent debate on the poverty line has been a depressing experience. As the debate unfolded, we witnessed self-righteous commentators engaged in a game of one-upmanship to prove that no one was more concerned for the poor than they, electronic media failing in its responsibility to inform the public simple facts and the Planning Commission proving itself incapable of communicating in simple terms the rationale behind its proposal either...

At a time when the government is willing to pump thousands of crores for the revival of national carrier Air India, the finance ministry has rejected railways' plea for a temporary loan of Rs 2,101 crore to fund its development works.  Turning down the loan request, the ministry has the asked state-run transporter, which is under acute financial stress, to meet its liabilities by raising resources.  Railways made the demand considering negative...

The 11th five-year plan promised the nation “inclusive growth”. It marked a departure from the earlier official position that the “benefits of growth” would automatically “trickle down” to the poor, and that if growth was not actually benefiting the poor, then the reason lay in its not being high enough. The 11th plan, by contrast, conceded that the “benefits of growth” did not automatically “trickle down”, but argued that growth...

It has to be but a means to development, not an end in itself Is India doing marvellously well, or is it failing terribly? Depending on whom you speak to, you could pick up either of those answers with some frequency. One story, very popular among a minority but a large enough group—of Indians who are doing very well (and among the media that cater largely to them)—runs something like...