Rising food prices and economic crisis have eaten into the gains made by India and the world in reducing poverty during the first half of this decade, a United Nations report released on Wednesday said. "Newly updated estimates from the World Bank suggest the crisis will heave an some 64 million into extreme poverty by end of 2010, principally in sub-Saharan Africa and South Asia," the Millennium Development Goals, 2010 report...
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poverty rate in India will dip to 24% by ’15
The number of poor people in India is expected to halve by 2015, according to the 2010 Millennium Development Goals report released on Wednesday. The poverty rate in the country is slated to decline from 51% of the population in 1990 to 24% over the next five years. That translates into around 188 million more people meeting a minimum subsistence standard of $1.25 a day—the benchmark for the report's findings....
More »Plan panel for hoarding grain to curb subsidy? by Nitin Sethi
Is the Planning Commission too singularly focused on reducing food subsidy and intending to dissuade people from buying subsidized food rations even as the government spends thousands of crores to store excess grains in its stocks? Is it being penny wise but pound foolish? An internal note of the Plan panel suggests so. A note prepared by the panel reveals some startling information. On April 1, 2010 -- normally the...
More »Sikkim aiming to be poverty free
The State Government has set the target to make Sikkim the first-ever poverty Free State of the country within the next four years. A comprehensive programme, involving all the Government departments will be undertaken for the purpose with special thrust on the poverty-stricken villages. This was announced by the Chief Minister Pawan Chamling in the Assembly yesterday. He was replying to the general discussion on the Budget in the House. Chamling...
More »Rich getting richer: 120k Indians hold a third of national income by Rukmini Shrinivasan
Last year may have been a cruel year for much of the country with slow growth and double-digit food inflation, but India's high net worth individuals (HNWIs) prospered — just over 120,000 in number, or 0.01% of the population, their combined worth is close to one-third of India's Gross National Income (GNI). HNWIs, in this context, are defined as those having investable assets of $1 million or more, excluding primary...
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