The Prime Minister's focus on double-digit growth is not due to any ‘growth mania'. It is for the benefit of the poor. At a recent function for police officers, the Prime Minister observed: “If we don't control Naxalism, we have to say goodbye to our country's ambition to sustain a growth rate of 10 to 11 per cent per annum.” Some commentators (like Prof Prabhat Patnaik of JNU) interpret this (in a...

India's impressive economic growth has not led to a reduction in under-nutrition among its children, according to a Harvard study that said the government should use its growing revenues for direct investments in aid like food stamps to address the problem. The Harvard School of Public Health study analysed malnutrition across various regions in India. It said under-nutrition was worst in poor and populous states like Bihar, Madhya Pradesh and Uttar...

“Budget is more than a document of income and expenditure. People expect it to tackle the twin problems of poverty and social injustice while ensuring better income and standard of living.” Country’s first woman Finance Minister of any state government, Upinderjit Kaur, said this while presenting her first budget and last of the present Akali-BJP government on Monday. With the state slated to go to polls early next year, the Rs...

In the pre-budget Economic Survey 2010-11, the Union finance ministry made a strong pitch for the pro-growth impact of investment in human capital adding, “fortunately, there is awareness of this in India and efforts are afoot in terms of budgetary allocation and actual initiatives to boost the development of skill and human capital.” Given this leading comment, it was only natural that Union finance minister Pranab Mukherjee laid special emphasis...

Driven by good performance of agriculture and services sector, the Indian economy grew by 8.2 per cent in the third quarter of the current fiscal, up from 7.3 per cent in the corresponding period a year ago. According to the data released by the government on Monday, farm sector during the third quarter ending December, recorded a growth rate of 8.9 per cent, up from a decline of 1.6 per cent...