India continued to be the largest recipient of remittances in 2010, with the figure rising from $49.6 billion in 2009 to $55 billion. It was also the country with the second largest number of emigrants (those migrating abroad) after Mexico, according to the World Bank's just-released Migration and Remittances Factbook 2011. Interestingly, even as 11.4 million people from India went abroad, 5.4 million came into the country, making India No. 10...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...

There is much about Dubai that is artificial and based on illusion: the man-made islands designed to represent a map of the globe; the indoor ski slope in the midst of desert; the incredible hotel with glass walls looking onto a sea aquarium mimicking the surrounding ocean. Dubai had also become synonymous with excess: building the tallest tower in the world and the biggest and most expensive luxury hotels, residences,...

The widening chasm between India and Bharat is perhaps best reflected in the manner in which electricity is consumed. The neon-lights of Mumbai and Delhi beckon many with their glitter, but large swathes of territory across the country literally remain in the dark more than six decades after political independence. The government remains obsessed till today with building mega power projects — even our first Prime Minister Jawaharlal Nehru had second...

The 2009 Human Development Report (HDR), released simultaneously across the world on Monday, makes a strong case for removing barriers to migration within and across borders, arguing that human movement had brought perceptible all-round benefits and held the potential to improve the lives of millions of poor and low-skilled people. Released jointly here by Deputy Chairman of the Planning Commission Montek Singh Ahluwalia and United Nations Resident Coordinator Patrice Coeur-Bizot, the...