The growing economy has spun a wheel of fortune for Indians, with high income households outnumbering those in the low category for the first time at the end of 2009-10, according to estimates made by think-tank NCAER. India has 46.7 million high income households as compared to 41 million in the low income category, the National Council of Applied Economic Research (NCAER) estimates on Earnings and Spendings have revealed. "For the first...

India is incredible (after shining), with the fastest growth rate, an emerging demographic dividend and innovative brains for the globe. But the vast majority in rural India — employed in agriculture, small-scale and tiny industries, self-employed, and with no assets — does not find it so. This government, claiming inclusive growth for the grossly deprived and poor, has not taken actions to bring down prices of essential food items, unprecedented...

The Union budget estimates the nominal rate of growth for the Indian economy to be 12.5 per cent during the current fiscal. While it is impossible to figure out the manner in which this number was arrived at, the government has predicted further that the inflation-adjusted real growth rate for the same year will be eight per cent. Simple arithmetic requires that the difference between the nominal and real growth...

The Food and Agriculture Organisation (FAO) and the Organisation for Economic Cooperation and Development (OECD) have warned that farm commodity prices, especially foodgrains, may rise by as much as 40 per cent by the end of this decade. This warning must be taken seriously given its implications for food insecurity. FAO’s Agricultural Outlook 2010-2019 projects prices of wheat, coarse grains and dairy products rising by 15 to 40 per cent...

A global survey’s rating of Indian consumers as the greenest in the world, though significant in itself, should be viewed in perspective. In the annual survey carried out by the National Geographic Society and the international polling firm GlobeScan, India topped the ranking for the eco-friendly consumption pattern of its population for the second year in a row. Brazil has been adjudged second, China third and the US last in...