India’s income inequality in 2017 may be worse than what it was during the British Raj. According to a new paper titled ‘Indian income inequality, 1922-2014: From British Raj to Billionaire Raj?’ penned by renowned economists Thomas Piketty and Lucas Chancel, India witnessed a sharp rise in the incomes of top 1 per cent post 1980s.
Recently, a powerful feature by The Guardian reported on the US’ accelerating farmer suicide crisis, part of a global farmer suicide crisis, which most acutely manifests in India. Layton Ehmke, farmer-turned-journalist, writes on how there’s no way to make a living growing food in America, and how poverty and shame are driving some to suicide.
From Down to Earth: GDP does not reveal the ground truth about progress in development. The top 10% of Indians control the wealth basket while the common people—more than one billion—slide down along ‘Hunger Index’. While the government flaunts a surging economy, prevalence of hunger in India is at the “high end of serious category”.
The world’s top 1 percent held 45.5 percent of all household wealth in 2000. Now, they hold 50.1 percent, according to research by Credit Suisse. The Mukesh Ambani family, the only Indian family in Asia’s top 10 families, is also the richest in the continent, as its net worth rose $19 billion to $44.8 billion.
Financial crises are happening more frequently, and the next panic is almost certainly brewing – mostly thanks to skewed government and central bank policies -according to research by Deutsche Bank. It comes as a warning to India, where the RBI has just approved a massive ‘recapitalisation’ programme to bailout banks struggling with ballooning corporate debt.
Himanshu Thakkar writes: Can we expect any improvement in state of our water resources under the new minister Shri Nitin Gadkari? It was interesting that after taking over the portfolio from Uma Bharti, Gadkari’s first stop was Maharashtra, to offer the Chief Minister Rs 55 000 crores for same corruption-ridden irrigation projects in three years.
As India like the rest of the world shifts from fossil fuels to renewables, India should also launch a new initiative for this dramatic transition. One of the guiding principles for energy transition should be India’s civilizational value of “simple living and high thinking” and not to maximize gross national product as other countries do.
Industrial farming, which gets all the attention (and most of the land), accounts for more than 80% of fossil fuel emissions and uses over 70% of the water supply in agriculture, actually produces only about 30% of the world’s food. It’s the diverse network of small-scale producers-the ‘Peasant Food Web’-that feeds 70% of the world.
If you think farmers have suffered unknowingly, you are mistaken. It’s in fact part of a global design. For GDP to grow, the prescription is to reduce the dependency of a large proportion of the population on agriculture. The entire effort is to create conditions that force people to abandon farming and migrate to cities.
From GGI News: In 1996, the World Bank directed India to move 400 million people out of agriculture. Former PM Manmohan Singh had repeatedly expressed the need to shift 70% farmers. Only then will cheap labour be available for infrastructure development. The economic design is well laid out. Agriculture is being killed for economic growth.
We should expect financial collapse quite soon – perhaps as soon as the next few months. Our problem is energy related, but not in the way most experts have claimed. It’s much more related to the election of President Trump and to the Brexit vote. Most people don’t understand how interconnected the world economy is.
Huffington Post reports: India ranks 132nd out of 152 countries on a new index that measures the commitment by a country towards reducing inequality. The index is composed of 21 data points with varying weights; including health and education, share of tax revenue in the GDP, share of tax exemptions, minimum wage and maternity benefits.
Down to Earth reports: Despite bumper production, volume of import of cereals like wheat and maize increased by 110 times between 2014 and 2017. Traders now find it cheaper to import from Australia than to procure locally. India’s already distressed farmers are the hardest hit by the fall in the prices caused by the rising imports.
From Mining Review Africa: Environmental NGO Urgewald has revealed companies that are at the forefront to expand the world’s coal-fired power by 42.8%. The report identifies the 120 companies that are planning about 850 new coal plants in 62 countries–including Indian coal majors Adani, Tata, Lanco and Coal India, which are driving the biggest plants.
From CarbonBrief: Billions of people across the world – possibly half the global population – could see climates they’ve never experienced before by the middle of the century, a new study says. One of the authors, Manoj Joshi of the University of East Anglia, speaks on the future emergence of unfamiliar climates across the world.
Carbon Brief reports: A startling 22% of global CO2 emissions stem from the production of goods that are consumed in a different country. However, traditional inventories do not include emissions associated with imports. While Western countries have reduced domestic emissions recently, some of this reduction has been offset by increasing imports from countries like China.
John Scales Avery writes in Countercurrents.org: Malthus’ “Essay on The Principle of Population” was one of the first systematic studies of the problem of population in relation to resources. He was the first to stress the fact that, in general, powerful checks operate continuously to keep human populations from increasing beyond their available food supply.
From AlterNet: Last year it was eight men, then down to six, and now almost five. The world’s richest five men now own over $400 billion in wealth. On average, each man owns nearly as much as 750 million people. The super-rich are absconding with our wealth, and the plague of inequality continues to grow.
Here are the key findings from Centre for Science and Environment’s study of how India has warmed over the years, also plotted in animation. The analysis looks at temperature trends in the country –both annual and seasonal– from 1901 till recent years. It finds that the country has been getting warmer continuously, consistently and rapidly.
From TheWire: Public memory in India is amnesiac. Still, it is difficult to forget that Narendra Modi rode to power in 2014 on the plank of promoting development, aptly captured by ‘Sabka Saath Sabka Vikas’. Three years down the line, it’s time to take stock. These findings seriously question the Modi government’s record so far.