The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP Growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with Growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...

-The Indian Express   Pranab Mukherjee should use his waking hours to signal bold reforms Until a few years ago no one really thought that governments could go bust. But the deepening sovereign debt crises of Europe have now persuaded us that governments can go bust if their debt levels cross a certain danger mark. What is that danger mark remains a matter of research by economists around the world. Some studies have concluded...

-The Financial Express   Bhim can't understand what he's done wrong.   Before dawn every day he joins hundreds of wholesale traders at Delhi's Azadpur Mandi, a sprawling, chaotic market where trucks blare Bollywood music, porters haul huge brown sacks of fruit and vegetables and hawkers ply tea and cigarettes. His own trade is in rosy red apples, laced with calcium carbide. Bhim says he's been adding chemicals to his apples for years to artificially ripen...

-The Economic Times   In 2007, 27-year-old Kaushalendra from Bihar shunned the placement frenzy, which would see many of his colleagues earn fat salaries, in favour of a more homespun alternative: Selling fresh vegetables on a push cart to residents of his hometown Nalanda.  Putting together whatever money he had, Kaushalendra began the venture in 2008 and soon started doing well. People didn't mind paying a little more if they saw value in...

-Live Mint   Never in the history of India has a welfare programme of such scale been launched before. As the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) enters its seventh year, its statistics are staggering. In 2011-12, 37.8 million households were provided employment and 1,208 million persondays of work were generated. In its scale and ambition, the programme is pharaonic. If the programme succeeds in its mission—and that is still a...