The strongest earthquake to hit Haiti in more than 200 years crushed thousands of structures, from humble shacks to the National Palace and the headquarters of U.N. peacekeepers. Destroyed communications made it impossible to tell the extent of destruction from Tuesday afternoon's 7.0-magnitude tremor or to estimate the number of dead lying among the collapsed buildings in Haiti's capital of about 2 million people. International Red Cross spokesman Paul Conneally told the...

Has India's poorest and most lawless state turned the corner? If you believe the government of the northern state of Bihar, the answer appears to be in the affirmative. According to it, Bihar clocked up a giddy growth rate of 11.03% in 2008-2009. This would make it India's second fastest growing state economy, just behind the industrially-developed western state of Gujarat. Not so long ago, Bihar was written off as a...

A section of the media seems to be mighty impressed with Bihar’s miraculous (11.03%) average annual growth during the 2004-05 to 2008-09, supposedly akin to that of Gujarat (11.05%) but is there a catch in this stunning statistics? (See the graph below). While the media has quoted the Gross State Domestic Product at factor cost (at constant 1999-2000 prices) as provided by the Central Statistical Organization (CSO), but the corresponding...

Without policy efforts to deal specifically with issues such as reduced incomes and unemployment, the global economic crisis will be far from over. FOR most economic commentators, 2010 begins on an optimistic note. Just a year ago, there was much gloom about the world economy. The worst financial crisis since the Great Depression had broken out in full fury; asset markets in the United States, Europe and then most developing...

New method finds India is 9 per cent poorer india is poorer than previously estimated. A revised estimation of poverty for 2004-05 using new methodology showed the number of people below the poverty line was 37.2 per cent and not 28.3 per cent, as estimated earlier. The new estimate took into account expenditure on food, basic health and education, unlike the earlier estimation based on per capita calorie consumption. The inclusions...