Last week, the Indian Meteorological Department (IMD) released its first annual monsoon forecast for June-September. Monsoons are likely to be normal with the probability of deficient or excessive monsoons being relatively low, according to IMD. If this prediction comes true, what does this really mean for India's economy? Impact on agricultural output: The first and most important impact is, of course, on agricultural production, especially in the kharif or summer season....

Raising the bar on child labour, the government is set to debar employment of children below the age of 14 in any industry. Only those between 14 to 18 years can be employed except in hazardous industries. The existing Child Labour (Prohibition and Regulation) Act, 1986, allows employment of children of up to 14 years of age in the industries not considered to be hazardous. Hazardous industries include tobacco, stone crushing,...

But non-farm income keeps economy afloat   New Delhi, April 25: The rural growth story is slowly losing sheen because of inflation and rising input costs. In fact, rural price level is higher than urban price level. The March Consumer Price Index number for rural India stood at 116.3, while that for urban India stood at 114.6. Mr Ajay Sriram, Chairman and Senior Managing Director, DCM Sriram Consolidated Ltd, says the rural growth...

Difficult times call for difficult measures. Pushed into a corner by an unsustainable fiscal deficit and various sectors and programs (including the proposed food security legislation) screaming for a greater share of the budget pie, the Congress-led United Progressive Alliance (UPA) government in India has been forced to do what it might not have otherwise—reduce its marquee job guarantee scheme’s allocation in a big way for the first time.  In one...

Not a single case has been registered under a 19-year-old law that prohibits hiring of manual scavengers and building dry latrines. The revelations come weeks after the latest census data showed 25 lakh households across the country depend on manual scavengers to remove night soil from latrines. Union social justice minister Mukul Wasnik conceded implementing the Employment of Manual Scavengers and Construction of Dry Latrine (Prohibition) Act, 1993, had been “weak”. “The implementation...