We are providing below the revised version of the above mentioned article (in pdf), which was originally published in Outlook, 14 November, 2011 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...

-The Indian Express Too many of our economic prescriptions are based on dogma, empirical half-truths It has become fashionable to say, following the conclusions of Michael Spence’s Growth Commission, that there is no single recipe for growth, only some common ingredients. Such a claim brings a due degree of modesty to what we do or do not know about growth. And at the very least, such a claim has the virtue of...

-Live Mint Decline came as labour productivity grew 7.6%; wage growth remains far below pre-crisis levels globally  India’s real wages fell 1% between 2008 and 2011, while labour productivity grew 7.6% in the same period, International Labour Organization (ILO) data showed on Friday, indicating that the benefits of the country’s economic growth didn’t translate into better pay for workers in the aftermath of the global economic crisis. In contrast, China’s real wage growth...

-The Indian Express Lamenting the virtual collapse of public health system in major parts of the country, Union Minister Jairam Ramesh today said rural families are falling into debt trap due to expensive private health sector. In large parts of the country, particularly in central and eastern India and in tribal belts, he said public health system is "not abysmal but has collapsed". "Indebtedness caused by private health sector is one of the...

-The Hindu The U.S. special supplement scheme for women, infants and children to prevent undernutrition is a model that India can learn from India’s economic growth over the last 15 years, and the growing size of the middle class, have become a source of attraction for international investors, especially in the retail food industry. However, the gap between the rich and the poor has only widened: nearly 40 per cent of the...