India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...

Eight Indian States are home to 421 million multidimensionally poor people, more than the figure of 410 million in 26 poorest African countries. The Multidimensional Poverty Index — which identifies serious simultaneous deprivations in health, education and income at the household level in 104 countries — brought out in the latest United Nations Human Development Report has calculated that South Asia is home to half of the world's multi-dimensionally poor population,...

A meticulous study of the agrarian relations in three villages. ONE of our senior sociologists once drew my attention to the distinction between economics and other social sciences. Other social sciences – sociology and anthropology, for instance – he said, pay a great deal of attention to gathering primary data and interpreting them, whereas economics relies on secondary data for its analysis. This is, to a large extent, a fair...

India has missed a historic opportunity to abolish hunger through a universal public distribution system (PDS), which entitles all citizens to affordable food. The National Advisory Council (NAC), a progressive body established by the United Progressive Alliance, was to draft such a law, but has recommended a Bill which greatly reduces the public's entitlements. This is a setback. India's annual per capita cereal consumption has fallen to 174 kg, lower than...

Health is wealth, goes the adage. For confirmation, check how much India loses to illness every year, and compare it with China. While China loses 15,279 healthy years per one lakh population per annum on account of illness and disability, the corresponding figure for India stands at 27,316, around 80% higher. India's performance on this crucial health indicator — which is also a proxy for labour productivity — appears gloomy even...