In India, agriculture and allied sector is the source of income for over 60% of rural population and its contribution to GDP has been consistently coming down and currently stands at 14.3%. For the Indian economy to grow at the rate of 8-9%, the growth rate of agriculture sector has to be more than 4%. The critical role of agriculture in the economy highlights the need for a larger investment in...
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UPA’s elbow room to push crucial reforms may shrink
-The Indian Express The Samajwadi Party’s sweep in India’s biggest state, Uttar Pradesh, and Congress’s defeat in Punjab and Goa will further shrink the elbow room the Congress-led UPA government at the Centre has to push through key initiatives such as foreign direct investment (FDI) in multi-brand retail, pension reforms and legislation such as the goods and service tax (GST) that require support from states. The Centre had postponed some of these...
More »Chronic famishment by CP Chandrasekhar
National Sample Survey Organisation's report on the average calorie intake per person in Indian households points to a much higher incidence of poverty in the country than reflected in estimates of the proportion of the population below the official "poverty" line. Among the features that sully India’s “growth story” is the persistence and possible worsening of malnutrition in the country. The subsistence nutritional intake adopted when defining the official poverty line...
More »Don't blame the implementers by Shubhasis Gangopadhyay
Corruption and government apathy may not be hurting MNREGS as much as well-intentioned tinkering There is growing concern that the Centre’s allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) is dropping off. Correspondingly, the average number of days of work created in some of the states is dropping sharply. This decline in the spending of MNREGS money is not a one-off event but has been happening over the...
More »Decontrol urea prices, raise excise duty: PMEAC
-PTI Amid widening fiscal deficit, Prime Minister's economic advisory panel today suggested aligning diesel prices to global market in a phased manner and also raising excise and service taxes to pre-crisis level of 12%. Releasing the Review of the Economy: 2011-12, Chairman of Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan also pitched for deregulation of urea prices. Expressing concern over high fiscal deficit which is expected to overshoot the target of 4.6%...
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