The global youth unemployment rate is at a record high and is expected to climb even higher as the year progresses, the United Nations International Labour Organization (ILO) announced today. According to a new report, of the world’s 620 million economically active youth between the ages of 15 and 24, 81 million were out of work at the end of 2009, the highest number ever. The youth unemployment rate climbed from 11.9...

One of the most intriguing features of India's agrarian economy in recent years is the persistence of agrarian distress in many regions, even while agricultural credit flow has risen sharply. Rising flow of credit to agriculture is normally associated with buoyancy in the farm sector. A closer look at the data on agricultural credit reveals that what is termed agricultural credit may have very little to do with agriculture, the...

There is an interesting debate on food security and we should get the Planning Commission’s perspective on this. But as I write this, the Planning Commission Web site still does not have the mid-term appraisal, so Yojana Bhavan must still be polishing it. This column has, over time, taken the position that the food security programme is really important and a country growing as fast as India simply cannot ignore...

A Group of Ministers (GoM) will discuss on Thursday issues pertaining to illegal mining, a ban on iron ore exports, the new mining legislation and setting aside a share in the profits of mining companies for the development of tribal areas. Officials of the Ministry of Mines said Minister B.K. Handique was pushing for the Ministry's proposal to make mining companies in tribal areas shell out a part of their equity,...

The NREGS is restricted. The PDS is targeted. Only exploitation is universal. The rotting of lakhs of tonnes of foodgrain in open yards, while shocking, is hardly new or surprising. Remember the rural poor marching on godowns in Andhra Pradesh in 2001 in similar circumstances? The Supreme Court was quite right in jolting the Union government. “In a country where admittedly people are starving, it is a crime to waste even...