India is the biggest victim of financial crisis-induced poverty

India is the biggest victim of financial crisis-inducedpoverty, according to data obtained by TOI from the United Nations Department of Economic and Social Affairs' (UNDESA). Check out these figures.

The UNDESA data estimates that the number of India's poor was 33.6 million higher in 2009 than would have been the case if the growth rates of the years from 2004 to 2007 had been maintained. In 2009 alone, an estimated 13.6 million more people in India became poor or remained in poverty than would have been the case at 2008 growth rates.

In other words, while a dip from the 8.8% growth in GDP averaged from 2004-05 to 2006-07 to the 6.7% estimated for 2008-09 may be nothing like the recession faced by the West, its human consequences for India were probably worse. The 2.1% decline in India's GDP growth rate has effectively translated into a 2.8% increase in the incidence of poverty.

Link

India puts on hold first GM food crop : Just for Now

BBC reports : India has deferred the commercial cultivation of what would have been its first genetically modified (GM) vegetable crop due to safety concerns.

Environment Minister Jairam Ramesh said more studies were needed to ensure genetically modified aubergines were safe for consumers and the environment.

The GM vegetable has undergone field trials since 2008 and received approval from government scientists in 2009.

My Take : Wait for the next food crisis.. GM Foods would be making a backdoor entry using Disaster Capitalist Strategy

Church of England withdraws from Vedanta

BBC : The Church of England has said that it will withdraw investment from a firm involved in a controversial mining project in the Indian state of Orissa.

This validates the stand of the environmentalists stand on Orissa. But POSCO is said to have started their operations there already. What would happen to Niyamgiri now?